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UFO Moviez IPO: Anchor investors pump in Rs 180 cr at Rs 625 per share

MUMBAI: The initial public offering (IPO) of UFO Moviez India Ltd has got good response from the anchor investors. The digital cinema distributor has raised Rs 180 crore (Rs 1.80 billion).

The anchor investors, Reliance Capital, SBI Mutual Fund, Pinebridge Global Funds, Jupiter South Asia, Amundi Funds, Ashmore SICAV, Kotak Mahindra Mutual Fund and Bharti AXA Life Insurance, have picked up a total of 2.88 million shares at Rs 625 apiece. This is at the higher end of the IPO price band.

The company is looking at raising Rs 600 crore (Rs 6 billion) from its IPO, which opened today and will close on 30 April. The price band is set at Rs 615-625 per share of face value Rs 10 each.

The IPO is an offer for sale (OFS) from private equity investors Providence (via P5 Asia Holding Investments [Mauritius] Ltd) and 3i Research (Mauritius), along with promoters selling their partial holdings.

UFO Moviez has kept 50 per cent of the offer for institutional investors, 35 per cent for retail investors and 15 per cent for non-institutional investors and high net-worth investors.

The company boasts of presence across 6,626 screens globally, including 4,911 screens in India.

AXIS Capital and Citi are the global coordinators and book-running lead managers for the offer, while Karvy Computershare is the registrar.

Also read:

UFO Moviez IPO to open on 28 April, price band set at Rs 615–625
UFO Moviez files for Rs 7.5 bn IPO; Providence, 3i to sell stake