Shemaroo Entertainment hits lower circuit after listing at a premium

Shares of Shemaroo Entertainment have hit the lower circuit of 5% at Rs 171 after listing at premium on the Bombay Stock Exchange (BSE).

The stock opened at Rs 180, a 6% premium against its issue price of Rs 170 per share on the BSE. Retail investors were offered shares at Rs 153, a 10% discount. It hit a high of Rs 181 so far and has seen a combined around 1.1 million shares changed hands on the counter so far on NSE and BSE.

The equity shares of Shemaroo Entertainment has listed and admitted to dealings on the Exchange in the list of 'T' group of securities.

The company is in the business of aggregation, production and co-production of cinematograph films and dramas and exploiting and distributing rights of films and dramas through various medium such as television licensing, DVD and VCD release; rights of content through new distribution avenues such as Internet protocol television, video on demand, and mobile platform.