Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessIPOMidvalley Entertainment sets issue price at higher end

    Midvalley Entertainment sets issue price at higher end

    Media & entertainment company Midvalley Entertainment has fixed an issue price at higher end of price band of Rs 64-70 a share. It raised Rs 60 crore as against issue of 85,71,429 equity shares.

    January 17, 2011 / 11:49 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Media and entertainment company Midvalley Entertainment has fixed its issue price at the higher end of Rs 64-70 a share. It raised Rs 60 crore by issuing 85,71,429 equity shares.


      The issue, which was open during January 10-12, was subscribed 4.03 times. Reserved portion of retail investors and non-institutional investors subscribed 9.01 times and 4.68 times respectively. Qualified institutional investors' portion was subscribed 0.35 times.


      Midvalley is a film production, distribution and exhibition company, actively engaged in the media and entertainment industry in South India. It has presence in the media and entertainment activity from concept to completion i.e. from script to screen. It produces, distribute and exhibit movies both in Indian and foreign languages.

      Issue proceeds are proposed to be utilised for entering into screening agreements with 300 cinema theatres. It will be used for renovation and up-gradation of cinema infrastructure with digital equipment and other related assets for a select 100 screens. The proceeds will also be used for acquisition of screening rights of company having similar line, range and objects of business.

      first published: Jan 17, 2011 11:34 am

      Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
      CloseOutskill Genai