Film King Raam Punjabi’s Treasure Increases to IDR 2.37 T! What is it?

Jakarta, CNBC Indonesia – Shares of production house issuers (production house/PH) PT Tripar Multivision Plus Tbk (RAAM) achieved a 25% auto reject (ARA) for 3 consecutive days since taking the floor (listings) Monday (8/5/2023). Along with that, the wealth of the owner, Raam Punjabi, also increased.

Based on data from the Indonesia Stock Exchange (IDX), Wednesday (10/5), RAAM’s closed share price shot up 24.73% to IDR 454/share.

Since listings with an offering price of IDR 234/share, RAAM shares have flown 94.02% or close baggers.

While the company he made was on the stock exchange, Raam Punjabi, which directly held 5.21 billion RAAM shares (84.19% after the initial public offering/IPO), immediately acquired wealth via Multivision share ownership of up to IDR 1.22 trillion.

Meanwhile, thanks to a significant increase in RAAM for 3 consecutive days, Raam Punjabi’s wealth at Multivision increased to IDR 2.37 trillion, or an increase of IDR 1.15 trillion.

This has not taken into account Raam Punjabi’s indirect ownership via PT Tripar Multi Image.

In the prospectus it is explained, Raam Punjabi owns 63.00% of PT Tripar Multi Image shares, while Raakhee Raam Punjabi, who is Raam’s wife and Multivision Commissioner, owns 31.0%, and RAAM Main Director Whora Anita Raaghunath 6%.

Meanwhile, PT Tripar Multi Image itself has 50 million or 0.81% shares in Multivision.

Of course, the calculations above are only a rough idea to illustrate the increase in the valuation of Raam Punjabi’s ownership, who serves as the company’s chief commissioner, in the current RAAM.

As mentioned above, RAAM set an IPO exercise price of IDR 234 per share. The sister issuer of Manoj Punjabi offered 929.2 million new shares issued from the company’s portfolio.

Issuer who manufactures films such as Soekarno and Hijrah Cinta the plans to use the proceeds from the IPO, among others as big 81.6% for the company’s working capital, namely film/web series/soap opera production financing and others.

Then, around 18.4% paid up capital for PT. Platinum Sinema (99.99% share ownership). The funds will be used to build and operate a new theater in Kebumen. This cinema is planned to start operating in 2Q2023.

Apart from Kebumen, 3 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2023 in Banyuwangi, Tabanan, Kualakapuas. 5 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2024 in Garut, Padang Sidempuan, Bondowoso, Demak, Pangkalan Bun.

Whora Anita Ragunath, President Director of the Company explained, the company’s move to enter the Indonesia Stock Exchange (IDX) through an IPO is part of an effort to increase the company’s funding capacity and better governance and we are optimistic about the prospects for the film business being run by the Company. This is in line with the statement of the main commissioner of RAAM Raam Punjabi.

“We are very pleased to be taking this step forward, I feel this is the most appropriate step in order to increase our contribution to the Indonesian film ecosystem, if our steps can contribute to the stability of MVP and our main goal so that our existence can continue,” said Raam Punjabi as Main Commissioner and Founder of RAAM.

Tripar Multivision Plus was founded in 1990 which focuses on the video production sector and all kinds of related businesses, such as trading, distributing the results of these businesses, both domestically and abroad.

CNBC INDONESIA RESEARCH

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Disclaimer: This article is a journalistic product in the form of the views of CNBC Indonesia Research, the research division of CNBC Indonesia. This analysis does not aim to persuade readers to buy, hold, or sell related investment sector products or assets. The decision is entirely up to the reader, so we are not responsible for any losses or profits that arise from that decision.

[Gambas:Video CNBC]

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