The initial public offer (IPO) of UFO Moviez India was subscribed 30% by the end of the second day of bidding for the issue today, 29 April 2015, as per data from the National Stock Exchange (NSE) website. The IPO received bids for a total of 20.29 lakh shares. Post the allotment to anchor investors, the firm is offering 68.29 lakh equity shares through the book building route.
The price band of the IPO is fixed at Rs 615 to Rs 625 per equity share. The issue closes tomorrow, 30 April 2015.
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 Rs 180 crore from anchor investors on 27 April 2015. The shares were allotted at Rs 625 per share, the top end of the IPO price band of Rs 615-Rs 625 per share. 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.
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). The company delivers movie content through its satellite-based cinema distribution network using UFO-M4 platform and D-Cinema network. The company receives revenue primarily from advertisers for in-cinema advertising, from movie producers and distributors for the secured delivery and screening of their movies and from exhibitors who are the owners of screens, through equipment rental and sales of digital cinema equipment.
UFO Moviez India reported consolidated net profit of Rs 36.86 crore on net sales of Rs 354.74 crore for nine months ended 31 December 2014. Net profit jumped 39% to Rs 46.54 crore on 25% growth in net sales to Rs 420.34 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
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