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Our Bureau

Mumbai , April 13

SHRINGAR Cinemas Ltd has fixed the price at Rs 53 per equity share for its public issue of 81.5 lakh shares.

The initial public offering closed on April 11 and has been subscribed 8.26 times.

The company plans to use the net proceeds of the issue to create infrastructure for its growth to enable it consolidate its position in the existing markets and to make in-roads into new markets.

The company is planning to open multiplexes in Thane, Hyderabad, Aurangabad and Kolkata.

The issue was entirely through a 100 per cent book-building process.

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