DQ Entertainment IPO subscribed 86 times

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The initial public offering (IPO) of DQ Entertainment, which closed today, received tremendous response from investors and got subscribed 86.33 times, as per data available on the NSE website.

The issue received total bids for 114.1 crore shares as against issue size of 1.32 crore shares (excluding anchor investors' portion). The biggest support was seen from the non-institutional investors, with their reserved portion being subscribed nearly 273 times followed by qualified institutional and retail investors. Their portion subscribed 94 times and 19.45 times, respectively.

The 1,60,48,011 equity shares IPO of animation, gaming and live action entertainment production and distribution company was opened for subscription during March 8-10, 2010. The price band for the issue was at Rs 75-80 per equity share of Rs 10 each.

The issue shall constitute 20.24% of the fully diluted post issue paid-up equity share capital of the company.

The company already received a committment of Rs 22,64,68,800/- from certain investors in the anchor investor portion of the issue. Anchor investors subscribed for 28,30,860 equity shares at a price of Rs 80 per share.

The company will utilise the net proceeds of the Issue to part finance investment in co-productions, focusing on  IP content creation, development of office premises and production facilities; development of infrastructure and additional facilities at the SEZ Unit, Kokapet Village, Rangareddy District, Andhra Pradesh, investment in our subsidiary, DQ Entertainment(Ireland) Limited and general corporate purposes.

The equity shares are proposed to be listed on Bombay Stock Exchange Limited.

Karvy Computershare Private Limited is the Registrar to the issue. SBI Capital Markets Limited is the book running lead manager.