Chatterbox Technologies Launches Rs 43 Crore SME IPO with Strong Grey Market Premium
Chatterbox Technologies, operating as 'Chtrbox', has opened its SME IPO to raise Rs 43 crore. The price band is set at Rs 110-115 per share for 37.27 lakh fresh equity shares. The IPO allocation includes 17.66 lakh shares for QIBs, 5.32 lakh for HNIs, and 12.40 lakh for retail investors. Established in 2016, the company has executed over 1,000 campaigns through 500 influencers. In FY23, it reported revenue of Rs 59.45 crore and profit after tax of Rs 8.86 crore. IPO proceeds will fund capital expenditure, office setup, brand building, and working capital. Shares are trading at a 33% premium in the grey market.
*this image is generated using AI for illustrative purposes only.
Chatterbox Technologies, operating under the brand name 'Chtrbox', has opened its Small and Medium Enterprise (SME) Initial Public Offering (IPO) to raise Rs 43 crore. The company, which runs an influencer marketing platform, has set the price band for its shares between Rs 110-115 per share.
IPO Details
The IPO comprises 37.27 lakh fresh equity shares, with the following allocation:
- Qualified Institutional Buyers (QIBs): 17.66 lakh shares
- High Net-worth Individuals (HNIs): 5.32 lakh shares
- Retail Investors: 12.40 lakh shares
Retail investors are required to make a minimum investment of Rs 1.15 lakh for 1,000 shares.
Company Overview
Chatterbox Technologies, established in 2016, has made a significant impact in the influencer marketing space. The company's platform has successfully executed over 1,000 campaigns through a network of 500 influencers. Its reach extends beyond domestic markets to international territories, including Singapore, UAE, US, and UK.
Financial Performance
The company has demonstrated steady growth in recent years:
| Fiscal Year | Revenue (Rs Crore) | Profit After Tax (Rs Crore) |
|---|---|---|
| FY23 | 59.45 | 8.86 |
| FY22 | 55.37 | 8.53 |
This represents a 7.37% increase in revenue and a 3.87% rise in profit after tax year-over-year.
IPO Proceeds Utilization
The funds raised from the IPO will be allocated towards:
- Capital expenditure
- Setting up a new office
- Brand building initiatives
- Working capital requirements
- General corporate purposes
Grey Market Performance
Investor interest in Chatterbox Technologies appears to be strong, with shares reportedly trading at a premium of approximately 33% in the unlisted market.
The SME IPO market continues to attract attention from investors looking for opportunities in growing companies. As always, potential investors are advised to carefully review the company's prospectus and consider their risk appetite before making investment decisions.
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