RANS Entertainment Indonesia Tbk to List on IDX, Here Are the IPO Details
RANS Entertainment Indonesia Tbk’s IPO targets up to Rp429.25 billion as it prepares to list on the IDX in July 2026.
JAKARTA, JOURNALARTA.COM — RANS Entertainment Indonesia Tbk to List on IDX, Here Are the IPO Details as the company founded by Raffi Ahmad and Nagita Slavina prepares to make its market debut on July 10, 2026. The entertainment and media business is aiming to raise as much as Rp429.25 billion through its initial public offering.
The listing puts a celebrity-built content group in front of public-market investors at a time when Indonesia’s capital market is paying closer attention to media, intellectual property, and digital audience businesses. RANS has already disclosed its prospectus to the Financial Services Authority, or OJK, and the Indonesia Stock Exchange, or IDX.
IPO price range, shares on offer, and timetable
The company entered the bookbuilding period from June 23 to June 25, 2026. RANS set an indicative price band of Rp135 to Rp170 per share, with a nominal value of Rp10 per share.
Under the plan, RANS will sell 2.525 billion new shares, equal to 20.02 percent of its issued and fully paid-up capital after the offering. The official timetable disclosed in the prospectus shows an effective date from OJK on June 30, 2026, followed by the public offering period on July 2 to July 8, 2026. The share allotment date is set for July 8, 2026, and the IDX listing date is July 10, 2026.
PT Trimegah Sekuritas Indonesia Tbk is acting as lead underwriter for the offering.
How much money RANS wants to raise
The amount raised will depend on the final offer price. At the top of the range, the company could collect Rp429.25 billion. At the lower end, proceeds would come in at Rp340.87 billion.
RANS also expects a post-listing market capitalization of between Rp1.70 trillion and Rp2.14 trillion, depending on where the price settles. That valuation makes the offering one of the more closely watched consumer-facing listings in recent months, especially because the business is tied closely to a famous media brand.
Phintraco Sekuritas analyst Alrich Paskalis said the valuation sits in premium territory, given that the company is still in a development stage and has not yet shown a very stable profit growth pattern. Even so, he noted that RANS brings a business mix rarely seen on the exchange.
“RANS is unique because it combines media, entertainment, intellectual property management, and a digital content ecosystem under one corporate umbrella,” Paskalis said.
Where the IPO proceeds will go
RANS says all net proceeds after issuance costs will be allocated across six uses. A portion will go to debt repayment at PT Bank Negara Indonesia (Persero) Tbk, while the rest will fund expansion, content production, technology, and working capital.
| Use of proceeds | Allocation | Amount |
|---|---|---|
| Debt repayment to BNI | 6.98% | Rp29.96 billion |
| Educational playground expansion for Cipungland | 18.64% | Rp80.01 billion |
| Concerts and performances | 37.61% | Rp161.43 billion |
| AI-related venture with PT Feedloop Global Teknologi | 8.15% | Rp34.98 billion |
| Acquisition of PT Rans Kosmetika Indonesia shares | 19.80% | Rp84.99 billion |
| Working capital for PT Rans Nikmat Sejahtera | 8.82% | Remaining balance |
The biggest slice of the proceeds, 37.61 percent, is earmarked for concerts and live performances involving local and international artists in various Indonesian cities. That gives a clear signal about where RANS sees its near-term growth: event production, content monetization, and audience-driven revenue.
Why the listing matters for investors
The deal is drawing attention because RANS is not a conventional issuer. The company runs 11 subsidiaries and four associate entities, with business lines that stretch from content and animation film production to advertising, cosmetics, food and beverage, and event promotion.
For retail investors, the bigger question is not just the size of the offering. It is whether a business built around personalities, content reach, and licensing can keep earnings steady once it enters the discipline of public-market reporting.
RANS reported operating revenue of Rp353.38 billion and net profit of Rp56.69 billion in its 2025 fiscal-year financial statements. Those numbers give the company a real profit base, but the market will still be testing how repeatable that performance is.
The prospectus also flags a key risk: the company depends heavily on the image and popularity of its two main founders. That matters. A lot. If the brand weakens or audience engagement changes, the valuation story can change with it.
President Director Nagita Slavina has said she is committed to serving in the role for at least the next three years from the listing date, a detail that may help reassure investors looking for continuity after the IPO.
Free-float rules and shareholding structure
The offering also raised interest because the public portion being sold is 20.02 percent, while IDX Regulation No. I-A/2026 requires companies with market capitalizations below Rp5 trillion to have at least 25 percent free float. RANS says the exchange reviewed the application under the rules in force when the documents were received, before March 31, 2026.
According to the prospectus, if existing shareholder holdings that qualify as free-float shares are counted, the total post-IPO free float reaches 28.85 percent, which meets the applicable threshold.
Before the offering, Raffi Ahmad holds 78.68 percent of the company, followed by Nagita Slavina with 1.24 percent, Kaesang Pangarep with 1.14 percent, PT Indonesia Entertainmen Grup with 9.04 percent, Soultan Ariq Rachman with 3.43 percent, and Dony Oskaria with 3.42 percent. After the IPO, those stakes will dilute, but the founding group will still retain control.
That structure means the public will get exposure to a fast-growing entertainment platform, while the founders keep a firm hand on strategy and execution. The first trading sessions on July 10 will show whether investors are willing to pay premium pricing for that mix of celebrity reach, content assets, and digital ambitions.
