The initial public offer (IPO) of digital cinema distributor UFO Moviez India was subscribed 12% until 17:00 IST on the first day of bidding for the issue today, 28 April 2015, as per data on NSE. The IPO received bids for a total 7.93 lakh shares compared with 68.29 lakh share on offer, as per NSE data.
The price band of the IPO is fixed at Rs 615 to Rs 625 per equity share. The issue closes on Thursday, 30 April 2015. Post the allotment to anchor investors, the firm is offering 68.29 lakh equity shares through the IPO.
The objects of the IPO are to achieve the benefits of listing the equity shares on the stock exchanges and for the sale of equity shares by the selling shareholders. The public issue is offer for sale by two private equity investors viz. 3i Research (Mauritius) and P5 Asia Holding Investments (Mauritius) and partly by the promoters.
UFO Moviez India raised raised Rs 180 crore from anchor investors on Monday, 27 April 2015. The company allotted 28.80 lakh shares to 10 investors, which include 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 shares were allotted at the higher end of its IPO price band at Rs 625 per share.
Among anchor investors, Pinebridge Global Funds — Pinebridge Asia Ex Japan Equity Fund acquired 5.60 lakh shares, Reliance Regular Savings Fund (Equity Option) brought 4.48 lakh shares and Amundi Funds - Equity India brought 3.20 lakh shares.
Anchor, or cornerstone investors, are institutional investors which are given allotment on a discretionary basis just before the opening of the IPO to instill confidence in the issue. Shares allotted to anchor investors have a lock-in for 90 days.
UFO Moviez India reported net profit of Rs 36.86 crore on net sales of Rs 354.74 crore in the nine months ended December 2014.
UFO Moviez India is India's largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens). The company operates India's largest satellite-based, digital cinema distribution network (in terms of numbers of screens) using its UFO-M4 platform as well as India's largest D-Cinema network (in terms of numbers of screens). In FY 2014, the company digitally delivered more than 1500 movies in 22 languages to 4,703 screens with aggregate seating capacity of approximately 2.15 million viewers spread across India. Since the beginning of its operations, it has digitally delivered more than 8,800 movies in India till February 28, 2015. End February 2015, its global network spanned 6,626 screens worldwide, including 4911 screens across India and 1,715 screens across Nepal, the Middle East, Israel, Mexico and the USA.
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