Silly Monks lists on NSE; may enter China, US

Hyderabad: City-based digital entertainment player Silly Monks Entertainment Pvt Ltd (SMEL), which listed on the National Stock Exchange (NSE) on Thursday, said it is looking to make inroads into Bangla, Marathi, Kannada and Hindi language content and also foray into overseas markets like South East Asia, China and US. Currently, SMEL is focused on creating and managing content for Over The Top (OTT)and social media platforms, predominantly YouTube, and has also forayed into movie distribution and production, web series production in Telugu, Tamil and Malayalam.

“South East Asia is very hot and China is opening up to our content, which can be dubbed in the local language. We are also working with a company in China for providing dubbed Indian content. In the second stage we are looking at them commissioning content to us. We are also looking at US where we have worked with Unreel Entertainment,” SMEL founder and MD Sanjay Reddy said. SMEL’s shares listed at a premium of 20% at Rs 144 a share on NSE’s Emerge platform. The company, which posted Rs 12 crore revenue and Rs 1.48 crore PBT in FY17, raised Rs 15.12 crore at Rs 120 a share via public offer of 12.60 lakh equity shares of face value Rs 10 each. Post IPO, the public holds 27.2% in SMEL, two HNIs have 32% and the two co-founders — Sanjay Reddy and Anil Pallala — the rest.