Animation and gaming firm DQ Entertainment (International) Ltd’s initial public offer to raise up to 1.28 billion rupees was subscribed 84.3 times, as per the NSE website on Wednesday, the last day of the issue.
DQ Entertainment had offered 15.73 million shares to the public at a price band of 75-80 rupees each. In addition, employees would get up to 321,011 shares at a 7 rupee discount to the issue price, the banker to the issue had said.
Last week, the producer of television series such as Iron Man and Casper allotted 2.8 million shares at 80 rupees each to seven anchor investors, including T Rowe Price International Discovery Fund and Morgan Stanley A.C.E. Fund.
In February, it had raised 256.9 million rupees through a pre-IPO share sale of 3.77 million shares to IDFC Investment Advisors and other corporate and high net worth investors, with IDFC taking the largest chunk of shares worth 200 million rupees.
DQ Entertainment will invest the proceeds in intellectual property, co-production deals, development of production and office units and a special economic zone in Andhra Pradesh, its Ireland unit and for general corporate purposes.
DQ has produced/co-produced and distributed brands such as Mikido, Twisted Whiskers, third season of Mickey Mouse Clubhouse and is now producing properties like Little Prince and Little Nicolas.
SBI Capital Markets are the bankers to the issue that opened on March 8.