Shemaroo Entertainment’s Rs 120- crore public float opens on 16 September

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MUMBAI: Shemaroo Entertainment, known in its initial years as a video rental library, will
open its Rs 120-crore initial public offering (IPO) on 16 September.

This will be the first IPO of 2014 in the media and entertainment (M&E) sector. As reported earlier by TelevisionPost.com, Ortel
Communications is also planning to soon file afresh with the market regulator SEBI for an IPO.

Shemaroo Entertainment is expected to announce the price band of its IPO on Wednesday. The IPO will close on 18 September, according to information with the
SEBI.

The company has offered a 10 per cent discount to retail subscribers. Of the shares offered, 60 per cent will be offered to qualified
institutional buyers (QIBs).
Shemaroo had received the nod from SEBI in February to launch its public float. The company had filed its draft red herring prospectus (DRHP) in June last year.
Shemaroo will use the net IPO proceeds to fund its working capital requirements and for
general corporate purposes.

The lead managers of the issue are Yes Bank Ltd and ICICI Securities Ltd. http://www.televisionpost.com/television/shemaroo-entertainments-rs-120-crore-public-float-opens-on-16-september/
 
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