Shemaroo Ent IPO subscribed 0.28 times on first day of offer

The initial public offer of Shemaroo Entertainment, which is into film and entertainment content business, got subscribed 0.28 times on the first day of the issue today.
The company's IPO received bids for over 15.95 lakh shares as against the issue size of over 57.20 lakh shares, reflecting 0.28 times subscription, according to data available with the NSE.
The category for retail individual investors was subscribed 0.53 times, while non institutional investors received 0.01 times subscription.
Shemaroo entered the capital market with an initial public offer of shares in the price band of Rs 155-170 to raise about Rs 100 crore.

The company's IPO, which opened today, will close on September 18.
Shemaroo Entertainment had yesterday sold shares worth Rs 36 crore to nine anchor investors including Birla Sunlife and HDFC mutual funds.

The proceeds from the issue would be utilised to fund working capital requirements and general corporate purposes.
The lead managers of the issue are Yes Bank Ltd and ICICI Securities Ltd.
Shemaroo would list shares on the National Stock Exchange and the BSE.
Shemaroo is into film and entertainment content business. This is the fourth IPO this year.
Prior to this, there have been public offers of Wonderla Holidays, Snowman Logistics Ltd and Sharda Cropchem.