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UFO Moviez IPO opens on Apr 28, price band at Rs 615-625

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

twitter-logo PTI   Mumbai     Last Updated: April 22, 2015  | 17:25 IST
UFO Moviez IPO opens on Apr 28, price band at Rs 615-625
Photo for representational purpose only (Source: Reuters)

Digital cinema distribution network UFO Moviez India on Wednesday said it has fixed the price band at Rs 615-625 per share for its Rs 600-crore IPO which will open for subscription on April 28.

The issue closes on April 30.

The Mumbai-based company has fixed Rs 615-625 per share as the price band, and will list on both BSE and NSE.

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

Speaking to reporters, UFO Moviez Managing Director Sanjay Gaikwad said, "There is headroom for growth in revenues from in-cinema advertising. Rather than adding more screens, the growth will lie in yields per screen" to address the issue of competition.

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.

The company as a platform provider has a current marketshare of 54 per cent in digital cinema distribution.

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.

The minimum bid lot is 24 equity shares and multiples of 24. Fifty percent of the offer is allocated to institutional buyers, 15 per cent to non-institutional investors and the rest to retail investors.

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

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