Media and entertainment firm RANS Entertainment rallies on IDX debut

Rans Entertainment (RANS), the media and entertainment company founded by Indonesian celebrity couple Raffi Ahmad and Nagita Slavina, made a strong debut on the Indonesia Stock Exchange (IDX), with its shares immediately hitting the exchange's upper daily trading limit on their first day of trading.

The company's shares rose 34.12% to IDR 228 apiece from its IPO price of IDR 170, triggering the auto rejection upper (ARA) threshold shortly after trading opened.

RANS raised approximately IDR 429 billion (US$23.7 million) through its initial public offering after issuing 2.52 billion new shares, representing 20.02% of its enlarged share capital.

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Speaking during the listing ceremony, president director Nagita Slavina said the public listing was driven by the company's ambition to grow beyond what its founders could achieve alone.

She added that the listing represented more than a capital-raising exercise, expressing hope that RANS would inspire other entrepreneurs and creators. "Creativity is not only capable of inspiring people, but also of creating jobs, opening up new opportunities, and driving Indonesia's economy," said Slavina.

The proceeds from the IPO will primarily be used to support the company's expansion across several business segments. Around 37.61% of the funds have been earmarked for operational expenditure, particularly to grow its concert business in cities across Indonesia.

A further 19.08% will be invested in expanding its Slavina cosmetics brand, while 18.64% has been allocated for capital expenditure related to the Cipungland family entertainment business. The remaining proceeds will be used to repay debt and inject capital into subsidiaries.

Trimegah Sekuritas Indonesia served as the underwriter for the IPO.

Financially, the company reported revenue of IDR 353.37 billion (US$19.5 million) in 2025, down 13.91% from IDR 410.49 billion (US$22.7 million) a year earlier. Net profit also declined 41.6% year-on-year to IDR 56.68 billion (US$3.1 million) from IDR 97.06 billion (US$5.4 million) in 2024.

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