BackUFO Moviez shares open 4% lower on listing day
The stock opened at Rs600 apiece in its debut trade, Rs25 lower than its IPO price on BSE
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Mumbai: Shares of UFO Moviez Ltd opened nearly 4% below the issue price on Thursday on its first day as a public company.
The stock opened at ₹ 600 apiece in its debut trade, ₹ 25 lower than its initial public offer (IPO) price on BSE. At 10.22am, the shares were trading at ₹ 612 apiece, down 2.08%, according to BSE. In intra-day trading, the shares touched a high and a low of ₹ 625 and Rs600, respectively.
The company had issued shares at ₹ 625 apiece in its IPO that was subscribed by over two times. The company had raised around ₹ 600 crore.
In its offering, the company had received 13.96 million bids against the total issue size of 6.83 million shares.
UFO Moviez has already raised ₹ 180 crore by allotting 2.88 million equity shares at 625 per share to various anchor investors such as Reliance Capital, Reliance Mutual Fund, SBI Mutual Fund, Pinebridge Global Funds, Royal Bank of Scotland, Jupiter South Asia Investment Company, Amundi Funds, Ashmore SIC, Kotak Mutual Fund and Bharti Axa Life Insurance Company.
The company’s shareholders—3i Research (Mauritius) Ltd and P5 Asia Holding Investments (Mauritius) Ltd—and promoters pared their stakes through the IPO.
For the nine months ending 2015, the company reported a revenue of ₹ 357.2 crore, while net profit was at ₹ 40.6 crore.
UFO Moviez operates India’s largest digital cinema distribution network and in-cinema advertising platform (in terms of the number of screens) as of October 2014.
Axis Capital and Citigroup Global Markets India Pvt. Ltd are the book running lead managers to the issue.
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