New Delhi: Enthused by revival in primary market, animation and visual effects firm DQ Entertainment, which is already listed in London, is planning to raise funds through an initial public offering in the country.
In a regulatory filing to the London Stock Exchange, DQ Entertainment Plc said, “DQE India, a wholly-owned subsidiary company in India, proposes to raise funds to meet its growth plans by way of a potential public offering in India.”
However, the company did not disclose the financial details of the potential offering being planned in Indian capital market.
“It is currently intended that any funds raised by DQE India will be such that the dilution to the company’s beneficial ownership shall be no more than 25%,” the filing added.
DQ Entertainment, an Andhra Pradesh-based animation, gaming and entertainment production and distribution group, had got listed on the Alternative Investment Market (AIM) of the London Stock Exchange on 18 December, 2007.
DQ Entertainment, was the first animation production, distribution & licensing company to be supported by five major venture equity partners, who exited the firm at the time of its listing at AIM, with good returns.
At present, DQ Entertainment’s shares were quoted around 108 pence at the LSE, with market cap of €38.8 million.
The company has a workforce of around 3,000 people and a global client/partner base of over 90 producers, distributors, broadcasters, licensors including Walt Disney Television Animation, Nickelodeon Animation Studios Inc, Electronic Arts, Marvel Comics, NBC-Universal, BBC Group, ZDF Germany and many more world-wide.