UFO Moviez IPO subscribed 12% on first day

The initial public offer (IPO) of digital cinema distribution firm UFO Moviez India was subscribed 12 per cent on the first day of the offer on Tuesday.

The Rs 600-crore IPO received bids for 7,93,752 shares against the total issue size of 68,29,269, data available with NSE till 1700 hours showed.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 22 per cent while non-institutional investors received a subscription of 0.04 times.

Retail investors category saw 0.09 times subscription.

UFO Moviez had on Monday raised Rs 180 crore from anchor investors.

The company plans to raise about Rs 600 crore through the IPO, including the anchor investor portion.

The price band has been fixed at Rs 615-625.

The issue will close on April 30.

Investors such as 3i Research (Mauritius) Ltd and P5 Asia Holding Investments (Mauritius) Ltd, and promoters will pare their stakes through the IPO.

The company has reported revenue of Rs 357.2 crore for the first nine months of FY15, with a profit after tax of Rs 40.6 crore.

UFO Moviez operates India's largest digital cinema distribution network and in-cinema advertising platform (in terms of number of screens) as of October 2014, according to ratings and research agency Crisil.

Axis Capital and Citigroup Global Markets India Pvt Ltd are the book running lead managers to the issue.