UFO Moviez debuts on bourses, shares down 4% from issue price

UFO Moviez India , a digital cinema distribution firm, made its debut on stock exchanges on Thursday at Rs 600 per share. Shares of the company listed 4 per cent lower than the issue price of Rs 625.

The public offer for subscription was opened on April 28 and closed on April 30 and subscribed 2.04 times.

UFO Moviez has already allotted 2.88 million shares at Rs 625 per share to anchor investors.

Some of the anchor investors include Reliance Mutual Fund, State Bank of India Mutual Fund, Pinebridge Global Funds, Jupiter South Asia, Amundi Funds, Ashmore SICAV, Kotak Mutual Fund and Bharti Axa Life Insurance.

In fiscal year 2014, the company digitally delivered more than 1,500 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 operations, it has digitally delivered more than 8,800 movies in India until February 28, 2015.

As at February 28, 2015, its global network spans 6,626 screens worldwide, including 4,911 screens across India and 1,715 screens across Nepal, the Middle East, Israel, Mexico and the USA.

Shares of UFO Moviez ended the day at Rs 598.80 and Rs 603.50 on the BSE and NSE, respectively.