Shemaroo Listing day: Debuts at Rs 180, Settling around Rs170

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Shemaroo Entertainment debuted at Rs 180 per share on the bourses today. The stock opened with a gain of around 5 percent but soon settled down to Rs 171 per share within minutes of listing. The film and entertainment business company entered the capital market with an initial public offer of 77.4 lakh shares in the price band of Rs 155-170 to raise about Rs 100 crore.

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 likeIshqiya, 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.

At 10:06 hrs Shemaroo Entertainment was quoting at Rs 171.00, up Rs 1.00, or 0.59 percent on the BSE.. It has touched high of Rs 181.00.

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