This Sachin Tendulkar-backed firm may soon launch IPO to raise Rs 500 crore

Smaaash Entertainment, a Sachin Tendulkar-backed sports-based entertainment, and gaming company may soon bring an initial public offering (IPO) to raise Rs 500 crore. Reports say Smaaash is likely to file draft papers with market regulator Sebi soon, and the IPO will be launched by December 2018.

“They are planning to close the $49 Mn round from I-AM Capital in the next 15-20 days, most probably, by the end of August. After that they will start the IPO process,” reported LiveMint, quoting a person close to the development. 

Earlier this year in April, Smaaash raised $6 million from a group of high net worth individuals (HNIs) including Ravi Modi, founder of clothing brand Manyavar, Lakshmi Narayanan, former vice-chairman, Cognizant and Vijaylaxmi Poddar of Balkrishna Industries. 

Meanwhile, an unnamed source told ETMarkets.com that the Mumbai-based Smaaash, with 32 entertainment centres, is aggressively looking at expansion plans and collaboration opportunities abroad. "The company already has an entertainment centre in Minneapolis in the US and is eyeing opportunities in Saudi Arabia and Thailand," the source informed.

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Smaaash kicked off operations in 2012 with 40,000 sq ft in Mumbai. The gaming firm was the brainchild of Shripal Morakhia, founder of brokerage firm Sharekhan.

Cricketing legend and icon Sachin Tendulkar has been an integral part of the Smaaash family since its inception in 2012. In his own words, 'The advanced simulators at Smaaash are fascinating and are very close to the real life experience'.