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UFO Moviez IPO subscribed over two times

MUMBAI: Digital cinema distributor UFO Moviez India Ltd has successfully concluded its Rs 600 crore (Rs 6 billion) initial public offering (IPO).

The IPO was subscribed 2.04 times by Thursday, 30 April, the closing date of the issue. The portion reserved for qualified institutional buyers (QIBs) was over-subscribed by 4.59 per cent.

In all, the issue received bids for 13,961,784 shares, compared to the total issue size of 6,829,269 shares on offer.

UFO Moviez set the price band at Rs 615–625 per share of face value of Rs 10 each. Private equity investors Providence (via P5 Asia Holding Investments [Mauritius] Ltd) and 3i Research (Mauritius) Ltd had offered their shares for sale, along with promoters selling their partial holdings.

While the high net individuals’ (HNI) portion was subscribed 1.17 times, the retail investors’ portion was subscribed 1.02 times.

UFO Moviez has already got nine anchor investors putting in around Rs 180 crore (Rs 1.80 billion).

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

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