Shemaroo
Entertainment, which is into film and entertainment content business, will hit
the capital market on September 16, 2014 to raise up to Rs.120 crore through an
initial public offer (IPO). This will be
the 4th IPO of 2014. Prior to that, there have been public offers of Wonderla
Holidays, Snowman Logistics Ltd.
One IPO is currently
underway, wherein Sharda Cropchem is aiming to raise over Rs. 350 crore through
a public offer scheduled to close tomorrow (September 11, 2014).
Shemaroo has offered a
10% discount to retail subscribers. Of the total shares offered, 60% will be
offered to qualified institutional buyers (QIBs).
The company's IPO
will open on September 16 and close on September 18 - 2014, as per information
available with the Securities and Exchange Board of India (SEBI).
Shemaroo had received
the market regulator Sebi's nod to launch the public offer in February, 2014.
The company filed its draft red herring prospectus (DRHP) in June last year.
The proceeds from the
issue would be utilised to fund working capital requirements and general
corporate purposes.
The proposed IPO
comprises "equity shares of face value of Rs. 10 each at the issue price
aggregating to Rs 120 crore."
Besides, the firm is
considering a "pre-IPO placement up to eight lakh equity shares
aggregating up to Rs. 10 crore".
The lead managers of
the issue are Yes Bank Ltd & ICICI Securities Ltd. Shemaroo would list
shares on the NSE & the BSE.
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