UFO Moviez raises Rs180 crore from anchor investors
UFO Moviez plans to raise `600 crore through an initial public offering
Mumbai: UFO Moviez India Ltd, a digital cinema distributor and in-cinema advertising firm, raised ₹ 180 crore from investors, the company said in a notification to the stock exchange.
The company sold 2.88 million shares to 10 so-called anchor investors at ₹ 625 per share. Investors who participated in this round include Reliance Mutual Fund, State Bank of India Mutual Fund, Kotak Mahindra Mutual Fund, Pinebridge Global Funds, Jupiter South Asia, Amundi Funds, Ashmore SICAV and Bharti AXA Life Insurance.
UFO Moviez plans to raise ₹ 600 crore through an initial public offering (IPO).
Shares will be sold in a price band of ₹ 615 to ₹ 625. The IPO will see the company’s promoters and investors such as 3i Research (Mauritius) Ltd and private equity fund Providence Equity Partners pare their stakes in the company.
3i and Providence are selling close to half of their stakes in the company through the offer.
The firm has reserved 50% of the offer for institutional investors, 15% for non-institutional investors and high net-worth investors and 35% for retail investors. The issue will close on 30 April.
The firm, which is a pioneer in satellite-based digital cinema distribution in the country, has a presence across 6,626 screens globally, including 4,911 screens in India.
Axis Capital Ltd and Citigroup Global Markets India Pvt. Ltd are managing the IPO.
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