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Our Bureau

Mumbai , March 17

SHARES of UTV Software Communications Ltd made their debut on BSE at Rs 165 as against the IPO price of Rs 130 per share. On NSE, it listed at Rs 150.

They moved up to a high of Rs 175.40 and ended at Rs 168.50 on BSE.

The initial public offering of UTV Software Communications Ltd closed on February 25. The issue size was Rs 91 crore and the company received bids for about 18.5 crore shares.

The proceeds from the IPO will be used for enhancement of production facility and office infrastructure, investment in the Kids Channel (Hungama TV), funding of SFX and post-production expansion, investment in movie production and distribution initiatives and general corporate purposes.

The issue comprised a fresh equity of 4,500,000 shares of Rs 10 each and offer for sale by CDPQ, a Canadian private equity investor, of 2,499,950 equity shares of Rs 10 each for cash. 349,950 equity shares were reserved for employees on a competitive basis with a net issue to the public of 6,650,000 equity shares.

The net issue to public constituted 34.11 per cent of the fully diluted post issue paid-up capital of the company.

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