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Our Bureau

The IPO proceeds will go to produce three untitled films and procurement of pre and post-production equipment

Mumbai , Dec. 20

The initial public offering of Shree Ashtavinayak Cine Vision Ltd has been subscribed by 6.04 times on the closing day. Bids were received across the price band of Rs 140 - Rs 160 a share.

The issue received bids for 1.99 crore shares against 33 lakh shares offered on the NSE and the BSE.

The QIB portion has been over-subscribed by 6.13 times, the non-institutional investor segment by 10.67 times and retail 3.94 times.

The Rs 52-crore IPO was offered through the 100 per cent book-building process. The IPO proceeds will go to produce three untitled films and procurement of pre and post-production equipment.

Allianz Securities Ltd is the book running lead manager to the issue.

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