Silly Monks Entertainment Limited has informed the Exchange regarding change in Registered Office of the company.
SILLYMONKS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Silly Monks Entertainment has completed the open offer process under SEBI Takeover Regulations, with Mr. Satyapoorna Chander Yalamanchili acquiring substantial shareholding and taking control of the company as the new Promoter, effective March 30, 2026. The entire board has been reconstituted: five new directors have been appointed (including Mr. Badugu Anish Kumar as Chairman and Managing Director), while six existing directors and the CFO have resigned. The company allotted 13,75,000 equity shares to the new promoter at Rs. 18.50 per share, aggregating to Rs. 1.90 crore, upon conversion of warrants. The board also approved the disinvestment of its subsidiary Dreamboat Entertainment LLC (which contributed 92.17% of total income at Rs. 24.19 crore) to Naveed Ahmed for a nominal USD 1,000, with completion expected by May 31, 2026. Additionally, the registered office has been shifted within Hyderabad from Gachibowli to Fateh Nagar.
This is a complete change of control event - shareholders should expect a fundamentally new strategic direction under the new promoter. The sale of Dreamboat Entertainment LLC for just USD 1,000 is particularly notable since this subsidiary generated nearly all of the company's revenue (Rs. 24.19 crore, 92.17%) but had negative net worth, effectively exiting the core revenue-generating business. The stock may see volatility as the market digests the new management, board, and business direction.