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Shemaroo Entertainment Ltd. Rs 120 cr IPO to open on Sept. 16
Published on September 9, 2014
Mumbai : Shemaroo Entertainment Ltd.which is in to film and entertainment content business, will hit the capital market on September 16 to raise up to Rs 120 crore through an initial 
public offer (IPO).
This will be the fourth IPO of 2014. Prior to that, there have been public offers of Wonderla Holidays, Snowman Logistics Ltd. One IPO is currently underway, wherein Sharda Cropchem is aiming to raise over Rs 350 crore through a public offer scheduled to close tomorrow.
Shemaroo has offered a 10 per cent discount to retail subscribers. Of the total shares offered, 60 per cent will be offered to qualified institutional buyers (QIBs).
The company’s IPO will open on September 16 and close on September 18, as per information available with the Securities and Exchange Board of India (Sebi).
Shemaroo had received the market regulator Sebi’s nod to launch the public offer in February. The company filed its draft red herring prospectus (DRHP) in June last year.
The proceeds from the issue would be utilised to fund working capital requirements and general corporate purposes.
The proposed IPO comprises “equity shares of face value of Rs 10 each at the issue price aggregating to Rs 120 crore.”
Besides, the firm is considering a “pre-IPO placement up to eight lakh equity shares aggregating up to Rs 10 crore”.
The lead managers of the issue are Yes Bank Ltd and ICICI Securities Ltd.
Shemaroo was founded in Mumbai on 29 October 1962 as a book circulating library; it later became a video rental library. At present, the company operates as an integrated media content house and its business includes content acquisition, value addition to content and content distribution. Its content library consists of over 2,900 movie titles in Hindi, Marathi, Gujarati, Punjabi, Bengali and other languages.. The company earned consolidated revenue of Rs265.95 crore in the year to March 2014 compared with Rs214.73 crore for the previous year—an increase of 23.07%. It recorded a net profit of Rs27.26 crore, an increase of 16.32% from Rs23.44 crore the previous year.
Shemaroo would list shares on the National Stock Exchange and the BSE.
Source: Sachin Murdeshwar
