IPO Watch: Moving Media Entertainment IPO opens on June 26; issue price band set at ₹66-70 apiece

IPO Watch: Moving Media Entertainment IPO will open for subscription on Thursday, June 26 and close on Monday, June 30. Moving Media Entertainment IPO price band has been fixed in the range of ₹66 to ₹70 per equity share of face value of ₹10 each. Bids can be made for a minimum of 2,000 equity shares and in multiples of 2,000 equity shares thereafter.

Moving Media Entertainment Limited provides rental services for camera and lens equipment tailored to the media and entertainment industry. They feature a broad range of high-quality gear available for rent, which allows filmmakers and production companies to utilize professional equipment without the need for outright purchases. They act as a comprehensive resource for all camera rental requirements for film and video production.

The company caters to the media and entertainment industry across the country. Their inventory includes various cameras, lenses, lighting, sound gear, and accessories such as filters, grips, gimbals, and monitors. We aim to keep the latest models from leading brands in stock, ensuring clients have access to cutting-edge technology for their projects.

The clientele comprises Star India Pvt. Ltd., Celebframe Entertainment Pvt. Ltd., Sunshine Pictures Ltd., Colosceum Media Pvt. Ltd., and SOL Production Pvt. Ltd.

Their services are utilized by production companies, advertising agencies, filmmakers, television networks, digital content creators, and event management businesses. These clients rely on their premium equipment, dependable service, and knowledgeable support.

Moving Media Entertainment IPO details

Moving Media Entertainment IPO consists of a fresh issue of 62,00,000 equity shares, aggregating to ₹43.40 crore. There's no offer for sale (OFS) component.

Moving Media Entertainment IPO aims to use the net proceeds from the offering for the following purposes: investment in advanced camera solutions, repayment or pre-payment of certain debt facilities, and general corporate needs.

Gretex Corporate Services Limited serves as the book-running lead manager for the Moving Media Entertainment IPO, with Maashitla Securities Private Limited acting as the registrar for this offering. Gretex Share Broking Private Limited is designated as the market maker for the Moving Media Entertainment IPO.

Moving Media Entertainment IPO GMP today

Moving Media Entertainment IPO GMP today is +8. This indicates Moving Media Entertainment share price was trading at a premium of ₹8 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Moving Media Entertainment share price is indicated at ₹78 apiece, which is 11.43% higher than the IPO price of ₹70.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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