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MUMBAI:
Hyderabad-based DQ Entertainment (DQE) will hit the market
with an initial public offering (IPO) of 16.05 million shares
on 8 March. The issue closes on 10 March.
DQE,
which is also looking for anchor investors, has already raised
Rs 256.96 million through pre-IPO placement with select investors.
DQE has allotted an aggregate of 3.77 million equity shares
at a price of Rs 68.11 per share (share premium of Rs 58.11).
Among
these, IDFC Investment Advisors Ltd (IDFC) has taken a major
chunk, amounting to 2.94 million shares, or 4.64 per cent
of pre issue and 3.70 per cent of post issue share capital
of the company (see table for details).
Name
|
No
of shares
|
Pre-IPO
%
|
Post-IPO% |
IDFC
|
2,936,427
|
4.64
|
3.70 |
Amit
Jasani Financial Services
|
146,968 |
0.23 |
0.19 |
| Rajesh
Sachdeva 251,402 |
251,402 |
0.40 |
0.32 |
Ajay
Sharma
|
125,824 |
0.20 |
0.16 |
Nikhil
Vora
|
146,821 |
0.23 |
0.19 |
Pradip
Doshi
|
36,705
|
0.06 |
0.05 |
The
price of the issue will be determined through the 100 per
cent book-building mechanism. Out of the issue of 16.05 million
shares, 15.73 million shares are for public while 3.21 million
are under employees’ reservation.
Also,
post IPO, the promoter’s holding in DQE will reduce to
75 per cent, from 94.03 per cent.
DQE plans to utilise Rs 1.07 billion out of the net proceeds
of the issue towards funding its expansion programme.
Also
read :
DQ
Entertainment mulls Pre-IPO placement
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