Raffi Ahmad's RANS Entertainment Plans IPO, Reveals Use of Proceeds
Jakarta - The entertainment company founded by Raffi Ahmad, PT RANS Entertainment Indonesia Tbk (RANS), is preparing to list on the Indonesia Stock Exchange (BEI) through an initial public offering (IPO). The company, pioneered by Raffi Ahmad and Nagita Slavina, is offering a maximum of 2.52 billion new shares, representing 20.02% of the issued and fully paid capital post-IPO.
In this corporate action, RANS has set an offering price range of Rp135 to Rp170 per share. Consequently, the potential funds raised by the company could reach a maximum of Rp429.25 billion. The shares offered are new shares with a nominal value of Rp10 per share. The company has appointed PT Trimegah Sekuritas Indonesia Tbk as the Underwriter for this IPO.
Regarding the use of proceeds, approximately 6.98% of the IPO funds will be used for the accelerated repayment of all principal debt to PT Bank Negara Indonesia (Persero) Tbk. Around 18.64% will be allocated for capital expenditure to build an educational play and learning facility named ‘Cipungland’. Furthermore, about 37.61% of the funds will be used for operational expenses to organise concerts featuring both local and international artists in various cities across Indonesia. The company will also allocate around 8.15% of the funds to establish a new business entity with PT Global Teknologi to develop artificial intelligence-based technology businesses.
Approximately 19.80% of the IPO funds will be used for business expansion through the acquisition of shares in PT Rans Kosmetika Indonesia, also known as Slavina. The remaining funds will be injected into a subsidiary, RNS, to support the development of its main business and the expansion of its business network.
In terms of financial performance, RANS and its subsidiaries’ profit for the year fell by 41.60% to Rp56.69 billion in 2025 from Rp97.07 billion in 2024. The company explained that the decline was influenced by a non-recurring gain of Rp44.94 billion from the disposal of a subsidiary in 2024. Revenue also decreased by 13.91% to Rp353.38 billion in 2025, compared to Rp410.50 billion in the previous year. The decline primarily came from the brand ambassador and talent management segment, which dropped 51.55% to Rp51.93 billion from Rp107.18 billion. Additionally, revenue from the sale of food, beverage, and beauty products based on intellectual property (IP) fell 12.69% to Rp107.01 billion.
The IPO schedule for PT RANS Entertainment Indonesia Tbk (RANS) is as follows:
Bookbuilding Period: 23-25 June 2026
Estimated Effective Date: 30 June 2026
Estimated Public Offering Period: 2-8 July 2026
Estimated Allotment Date: 8 July 2026
Estimated Electronic Share Distribution Date: 9 July 2026
Estimated Listing Date on the Indonesia Stock Exchange (BEI): 10 July 2026