The bookbuilding portion is Rs 75 crore and the fixed price portion is Rs 25 crore. The bookbuilding portion has been underwriten by HSBC Securities which is also the lead bookrunner (Rs 15 crore), Enam Financial Consultants (Rs 29.9 crore), SMIFS Capital Markets (Rs 14.9 crore), Triumph International Finance (Rs 15 crore), Enam Securities (Rs 10 lakh) and UTI Bank (Rs 10 crore). Except for UTI Bank, all others are part of the issue management team. The underwritters for the fixed price portion are Enam Financial (Rs 12.4 crore), SMIFS Capital Markets (Rs 6.25 crore), Triumph International Finance India (Rs 6.25 crore) and Enam Securities (Rs 10 lakh).

Of the bookbuilding portion, institutional investors will not be allotted more than shares worth Rs 37.5 crore. Ahead of the IPO, promoters of Mukta have allotted 82.45 lakh shares themselves through a 1649:1 bonus issue.Bids for the IPO open on July 10 and bids close on July 15. Fixed price and bookbuilt issue opens on July 28 and closes on August 1. The shares are proposed to be listed at Mumbai, Calcutta and NSE.

Promoted by well-known film personality Subhash Ghai, Mukta Arts is setting up a Rs 100-crore project which is itsown estimate. The company is setting up an integrated studio cum research and training institute at a cost of Rs 23 crore. The company will also deploy Rs 17 crore in upgradation of Audeus and equipment procurement, Rs 25 crore in acquisition of rights for movies, music albums, etc, Rs 13 crore in setting up of overseas and domestic offices for distribution and Rs 5 crore in setting up Web casting services and portal development. Besides, Rs 10 crore has been earmarked for working capital requirements. The entire project cost is being met from the public issue. The company is yet to incur any expenditure on the project.

Of the issue proceeds, the company plans to deploy Rs 66 crore in the year 2000, Rs 31 crore in 2001 and Rs 3 crore in 2002.