Jakarta. RANS Entertainment Indonesia made its trading debut on the Indonesia Stock Exchange on Friday, becoming one of Indonesia's first major creator economy companies to go public after raising Rp 429.25 billion ($23.8 million) through an initial public offering.

The company issued 2.525 billion new shares at Rp 170 each, representing 20.02% of its enlarged share capital.

Investor demand was strong, with the IPO heavily oversubscribed as nearly one million investors participated in the share offering, underscoring growing interest in Indonesia's digital and creative industries.

Chief Executive Nagita Slavina said the listing demonstrates that businesses built on the creator economy can evolve into professionally managed, sustainable enterprises.

"Indonesia has extraordinary creative talent. The next challenge is turning that creativity into valuable intellectual property, professionally managed companies, and ultimately sustainable jobs and long-term economic value. We hope RANS' journey shows that this is not only possible, but achievable," Nagita said in a statement.

RANS plans to use the IPO proceeds to accelerate long-term expansion across entertainment, intellectual property and technology businesses.

About 37.6% of the proceeds, or Rp 161.5 billion ($9 million), will fund concert production. Another Rp 85 billion ($4.7 million) will be used to acquire a 51% stake in Rans Kosmetika Indonesia, while Rp 80 billion ($4.4 million) will finance the expansion of Cipungland, the company's educational and family entertainment park.

The company will also invest Rp 35 billion ($1.9 million) in an artificial intelligence joint venture with Feedloop Global Teknologi, allocate nearly Rp 30 billion ($1.7 million) to partially repay investment loans, and inject approximately Rp 37.8 billion ($2.1 million) into the working capital of subsidiary PT Rans Nikmat Sejahtera.

Founded in 2016 in a home garage, RANS began as a digital content channel documenting the daily lives of the family of Raffi Ahmad, one of Indonesia's best-known entertainers. In less than a decade, it has grown into a creator-driven business that monetizes content, intellectual property, and fan engagement across multiple platforms.

Today, RANS operates a broad ecosystem spanning digital entertainment, IP development, consumer products, advertising services, and AI-based technology, working with more than 300 brands and employing hundreds of professionals.

Founder Raffi Ahmad said becoming a publicly listed company marks the beginning of a new chapter focused on stronger corporate governance.

"Today is not the end of our journey but the beginning. By becoming a public company, we are choosing to grow with higher standards, greater transparency, and stronger accountability to our shareholders and the Indonesian public. Public trust is a responsibility that we will continue to uphold through good governance and sustainable growth," Raffi said.