The IPO of Shemaroo Entertainment which was listed today (October 01) at Rs 180 per share closed flat at Rs 171 per equity share on the BSE.
Shares of Shemaroo Entertainment closed flat at Rs 171 per share on day 1 on the BSE. The stock opened at Rs 180 per share on the bourses today with gains of around 6 percent but soon settled down to Rs 171 per share within minutes of listing.
The company primarily engaged in film and entertainment business entered the capital market with an initial public offer of 27182239 shares in the price band of Rs 155-170 in order to raise around Rs 100 crore.
The share was touched an intraday high of Rs 181.00 and an intraday low of Rs 171.00 on the listing day.
Also Read: Videocon D2H files for IPO to raise up to Rs 700 cr
The IPO was subscribed 7.26 times with qualified institutional buyers (QIBs) 5.7 times subscription. Retail individual investors subscribed 7.54 times while high net individuals subscribed 8.64 times.
The proceeds from the issue would be utilised to fund working capital requirements and general corporate purpose. The lead managers of the issue are Yes Bank and ICICI Securities.
The content library consists of more than 1000 titles spanning new Hindi films like Ishqiya, Slumdog Millionaire, Ajab Prem Ki Ghazab Kahani, Omkara, Dil toh Baccha hai, Chandni Chowk to China, Bheja Fry 2. It also has rights of Hindi films classics like Mughal-e-Azam, Shree 420, Mera Naam Joker, Amar Akbar Anthony, Namak Halaal, Kaalia, Madhumati, titles in various other regional languages like Marathi, Gujarati, Punjabi, Bengali and a variety of non-film content.
The IPO market is all heated up this year. Three IPOs Wonderla Holidays, Snowman Logistics and Sharda Cropchem saw stellar listing.
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