#India #Mumbai #QYOU Media #Chatterbox Technologies #India IPO

Chatterbox Technologies Celebrates Successful IPO on BSE SME

Chatterbox Technologies, a subsidiary of QYOU Media Inc., celebrated a historic milestone by successfully completing its initial public offering (IPO) on the Bombay Stock Exchange (BSE) SME platform. This marks an important achievement, as it positions Chatterbox as the first company in India within the social media and influencer marketing category to be publicly listed.

A Remarkable Start

The IPO process, which involved a competitive book building phase, observed an overwhelming response from investors, being oversubscribed 52 times. The shares were initially priced at 115 rupees (approximately $1.81 CAD) and, by the end of the second trading day, had risen to 135 rupees (around $2.12 CAD), reflecting a 17% gain. Overall, the offering raised 42.86 Crore rupees, equivalent to about $6.73 million CAD, through the issuance of 3,727,200 equity shares. By the close of the second day, Chatterbox Technologies attained a market capitalization of approximately 190 Crore rupees (around $30 million CAD).

Trading Volume and Investor Interest

In the initial two days of trading, a remarkable 2.1 million shares were exchanged, which corresponds to over $4.2 million CAD in transactions, showcasing substantial investor enthusiasm for the offering. As stipulated by Indian SME exchange regulations, stock movement is limited to ±5% during the first 10 trading days, which then expands to ±10% for the subsequent 10 days before reaching a ±20% movement cap thereafter.

The Growing Creator Economy

Established in 2016, Chatterbox Technologies has taken a pioneering role in India's burgeoning creator economy, connecting brands with influencers across diverse markets. The firm’s innovative approach is further supported by its creative division, ChtrSocial, which assists brands in developing content strategies and digital storytelling that resonate with their audience.

On the inaugural trading day, Chatterbox was honored with a ceremony at the BSE, symbolizing its status as a trailblazer in influencer marketing. A promotional video highlighting Chatterbox's journey was showcased during the event, garnering applause and attention from attendees and investors alike.

Leadership's Vision for Growth

Curt Marvis, Co-Founder and CEO of QYOU Media, alongside Raj Mishra, Managing Director and CEO of Chatterbox Technologies, expressed their enthusiasm in a post-confirmation video addressed to shareholders. They reflected on the tremendous effort by the team that culminated in this success, stating, “This represents only the beginning of an exciting new path of growth and success.”

Marvis and Mishra also emphasized their diligence in ensuring investors will witness significant financial benefits as they pursue future development strategies. Their commitment to building on the initial momentum of the IPO reaffirms their vision of expanding Chatterbox's footprint in the influencer marketing landscape.

About QYOU Media

QYOU Media is renowned as one of the fastest-growing media companies driven by creators, operating in both India and the United States. With a focus on creating, distributing, and monetizing content produced by social media influencers, QYOU Media continues to expand its influence, creating meaningful connections between brands and their target demographics. Their recent achievements affirm their role in reaching over one billion consumers, reflecting their resilience and adaptability in a competitive industry. For more information, you can visit their official websites at QYOU Media and Chtrbox.

Forward-Looking Considerations

It's pertinent for investors and stakeholders to remain conscious of forward-looking statements embedded in the company’s disclosures. With the landscape remaining inherently uncertain, the actual performance is subject to a variety of factors that could influence results, thereby necessitating a careful approach to assumptions surrounding future endeavors.

In conclusion, Chatterbox Technologies not only made history by achieving a successful IPO but also signals a bright future for influencer marketing in India, inviting investors to participate in this dynamic growth sector.