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Shemaroo Entertainment has received seven times subscription for its Rs 130 crore-initial public offering (IPO), which closed on Thursday. The issue, priced in the range between Rs 155 and Rs 170 a share, saw good demand from all category of investors.
The institutional investor category was subscribed 5.7 times and the high networth investor segment was subscribed 8.6 times. Meanwhile, the retail investors category, where 10 per cent extra discount was offered, was subscribed 7.5 times. Shemaroo had raised about Rs 36 crore from anchor investors, which included Birla Sunlife MF and HDFC MF, at Rs 170 a share ahead of its IPO.
The success of the Shemaroo offering follows that of Snowman Logistics and Sharda Corpchem, who raised money by way of IPOs recently. Both the issues had been 60 times subscription. Snowman, which listed last week, has seen its share price almost double, while Sharda Corpchem is slated to make its stock market debut next week.
