| MUMBAI:
DQ Entertainment (DQE) has fixed the upper price band at Rs 80 per share that
will help it raise Rs 1.28 billion through an initial public offering (IPO). The
Hyderabad-based animation and gaming company will be able to mop up Rs 1.20 billion
at the lower price band of Rs 75 a share.
As
reported earlier by Indiantelevision.com, the issue will open on 8 March and close
on 10 March. DQE will be listed on the BSE.
The company will utilise the
net proceeds of the issue towards co-production, IP content creation, development
of office premises and production facilities.
DQE
had earlier completed a pre-IPO placement for Rs 256.9 million through a placement
of 3.77 million equity shares, or 5.97 per cent of the pre-issue share capital
of the company, with IDFC Investment Advisors Limited (IDFC) and other corporate
and high net worth individuals. Says
DQE International chairman and CEO Tapas Chakravarti, "We will have anchor
investors, the names of which I can't reveal now. But they will all be marquee
blue chip investors."
Also Read:
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IPO opens on 8 March; completes pre-IPO placement at Rs 68 a share DQ
Entertainment mulls Pre-IPO placement | 
