Category: SME

Amusing to see loss making companies getting listed on the BSE SME platform and the reasons given for their valuations.

Source: DRHP Filings of Salebhai Internet Ltd

Silly Monks Enterainment Ltd is a Hyderabad based Entertainment & Media Company with main focus in Digital Media Publishing.

It raised around 15 Crores via an IPO and got listed in Jan 2018 on the SME platform of NSE.

While raising funds from investors, it mentioned the following:

Yesterday the Company issued a press release that it is now playing the role of an angel investor and is investing in startups, unrelated to it’s core business !

Reminds me of the old Wall Street Saw “All hat and no cattle”

Source: DRHP Filings of Affle (India) Ltd

Amusing to see a controversial company getting high accolades from magazines.

Sirca Paints came out with an IPO issue in May 2018 on the SME segment of NSE.

They had roped in some marquee names as anchor investors @ 160 Rs/share.

So its a surprise to see one of the Anchor Investors exit within a month and half of listing

So is the lesson here “Fronti nulla fides” ?