Our society functions in strange ways. The proof lies in the fact that ULLU Digital is showing numbers that are practically unbelievable. The OTT platform known for making soft porn content has an insane number of subscribers and now they are eyeing more expansion.
ULLU Digital is making big moves by applying for its first public offering (IPO) with the BSE SME platform. They want to raise a lot of money, around Rs 135-150 crore, which would be the largest IPO ever for a small and medium-sized enterprise (SME) company. You read that…largest IPO ever.
The IPO means that ULLU Digital is going to sell new shares of its company to the public for the first time. They’re not selling any existing shares, just new ones. They’ve set aside a portion of these new shares for different types of investors: big institutions, regular people like you and me, and other types of investors.
ULLU Digital’s streaming platform, called “Ullu,” is known for its variety of content. They offer everything from web series to short films covering romance, drama, thrillers, and comedy. But, mostly those kinds of content.
The money raised from the IPO will help ULLU Digital grow even more. They plan to use it to create new content, buy shows from around the world, hire more people, and cover day-to-day expenses. In short, they want to make their platform bigger.
In the months leading up to the IPO, ULLU Digital has shown that it’s doing well financially. They made Rs 58.83 crore from their operations and had a profit of Rs 12.27 crore up to September 2023.
Overall, ULLU Digital’s IPO is a big deal in the world of streaming. Needless to say, the kind of content ULLU makes definitely sells in the market. But, we doubt whether mainstream platforms will take any inspiration from them.