DQ Entertainment, initial public offer (IPO), received a robust response from the investors. The issue was subscribed 86.33 times on last day of issue, according to information available on the NSE website.
The animation, gaming and live action entertainment production and distribution firm proposed to raise Rs 153 crore through public issue has received total bids for 1,141 million equity shares against the offer of 13.21 million equity shares.
The issue had opened on March 8 and closed yesterday, in a price band of Rs 75-80 per share.
The Qualified Institutional Buyers (QIBs) portion of IPO received subscription of almost 94 times. The QIB portion received total bids for 620 million equity shares against the offer of 6.6 million equity shares.
Out of the QIB portion, foreign institutional investors (FIIs) have bid for 377.5 million equity shares and mutual funds have subscribed for 120.3 million equity shares. The domestic financial institutions including banks, financial institutions and insurance companies have subscribed for 90.5 millions, while the remaining 31.7 million shares were subscribed by others.
Non-institutional investors (NIIs) include corporate and high net worth individual investor portion was subscribed by whopping 273 times. NIIs portion has received total bids for 429.1 million equity shares against the offer of 1.57 million equity shares. The retail investor's portion which subscribed 19.44 times has received total bids of 91.7 million equity shares against the offer of 4.7 million equity shares.
The company had already raised Rs 22.65 crore by making allotment of 2.83 million equity shares to anchor investors at Rs 80 per share. The company allocated 1.31 million equity shares to IDFC Small and Midcap Equity (SME) Fund.
T Rowe Price International Discovery Fund, Birla Sunlife Equity Fund, Birla Sun Life MIP II - Savings 5 Plan, Morgan Stanley A.C.E. Fund, Axis Tax Saver Fund and Axis Equity Fund were the other anchor investors to have acquired shares of the company.
Last month, the company had raised Rs 25.69 crore through a pre-IPO placement of equity shares with IDFC Investment Advisors (IDFC) and other corporate & High Networth Individuals The company plans to utilise Rs 107 crore out of the net proceeds of the issue towards funding its expansion programme.
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