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| DQE completes Pre-IPO placement of equity shares |
| Announcement / Corporate Feb 22, 2010, 19:30 IST |
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DQ Entertainment (International) Limited (DQE), the Animation, Gaming and Entertainment production and Distribution Company, has announced a pre-IPO placement of Rs 25.69 crores through a placement of equity shares with IDFC Investment Advisors Limited (IDFC) and other corporate & High Networth Individuals. IDFC has been allotted these equity shares amounting to Rs 20 crores under its IDFC Hybrid Infrastructure Portfolio while all other pre-IPO investors have also received allotment. DQE has filed a Red herring prospectus with The Registrar of Companies, Hyderabad, Andhra Pradesh, and is in the process of offering its Equity Shares at a price to be determined through the 100% book-building mechanism (“Issue”) in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009. The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE).
The Book Running Lead Manager (BRLM) to the Issue is SBI Capital Markets Limited.
Commenting on the investment, Mr. Naval Bir Kumar, President and CEO, IDFC Asset Management Company Limited, remarked “Animation is a multi-billion dollar industry. DQE is a winner of Emmy and many other international awards. It is co-producer of brands like Ironman, Casper, and Lassie, to name a few. Its focus on creation of own Intellectual Property for brands such as The Jungle Book should enable it to grow. We are excited to partner with DQE and wish them all the success”
Mr. Tapaas Chakravarti, CMD & CEO of DQ Entertainment (International) Limited, said, "We are delighted with the investment by IDFC and others as Pre-IPO investors. This is an affirmation of our business model and efforts firmly in place to be recognised as an entertainment Group. While serving major clients world-wide, with IP development, and all media exploitation of legendary brands being brought to life by DQE's skilled International and Indian workforce is also testimony to the potential of this industry and the standards we have achieved. The confidence reposed by the judicious and discerning team at IDFC in our business model is an honour and clearly conveys the position of DQE as a leading group in the animation and entertainment space.
About DQE
DQE is one of the leading producers of animation, visual effects, game art and entertainment content for the Indian as well as global media and entertainment industry.with a workforce of over 2800 permanent employees and a global client - partner base of over 90 producers, distributors, broadcasters and licensors including Walt Disney Television Animation, Nickelodeon Animation Studios Inc., Electronic Arts, Marvel Comics, American Greetings, NBC-Universal, BBC Group, M6/ France TV/ TF-1 Broadcasting groups from France, ZDF Germany and many more world-wide.
DQE has produced/co-produced and distributed iconic brands such as Iron Man - the first 3D animated TV series, Twisted Whiskers, Mikido, Casper, Pinky & Perky, second season of Large Family, third season of Mickey Mouse Clubhouse and is now producing properties like Little Prince and Little Nicolas. DQE has a library of over 350 hours of international programs for distribution.
DQE is also developing and producing ‘The Jungle Book’ as a 52 episode animated series and a 60 minute TV feature, Toomai-The Elephant Boy which is a live action TV series as well as Indian IPs which are on production like Mysteries of Feluda, and Omkar.
DQE's production facilities are based in Hyderabad, Mumbai and Kolkata and it has international sales representatives in Los Angeles, Paris and Tokyo.
About IDFC Investment Advisors Ltd. (IDFCIA)
IDFCIA is a 100 % subsidiary of IDFC Asset Management Company Limited (IDFC AMC) which in turn is a 100% subsidiary of IDFC Ltd. IDFCIA was set-up in April 2006 to engage in the business of investment advisory and third party asset management business for clients in India and internationally. IDFC AMC managed average assets of more than Rs 25,000 cr (more than $5.1 billion) under management in December 2009.
Being a part of the IDFC group, IDFCIA has access to expertise in the Indian infrastructure sector. IDFC Ltd., set up in 1997 by the Government of India, is the leader in financing infrastructure in India. IDFC has been playing an influential role in determining and shaping policy frameworks in all the sub sectors of infrastructure giving it a unique access and visibility with policy makers. Over a period of time IDFC group has expanded its scope of activities and provides a whole basket of services ranging from equity and debt capital, arranging funds and providing access to the capital markets to leading and emerging Indian business groups especially in the infrastructure sector. IDFC group is a leading player commanding significant market share in each of its business verticals.
DISCLAIMER
DQ Entertainment (International) Limited, is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offer of its equity shares in India and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in and on the website of the BRLM at www.sbicaps.com.
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For further details, potential investors should refer to the DRHP, which has been filed with SEBI including the section titled "Risk Factors". This press release has been prepared for publication in India and may not be published or distributed in the United States of America and is not an offer or solicitation of an offer for sale of securities in the United States. The equity shares of DQ Entertainment (International) Limited have not been and will not be registered under the U.S. Securities Act of 1933, as amended or any state securities laws in the United States. This announcement does not constitute an offer of securities or sale in any jurisdiction, including the United States, and may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1993.
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