wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Shemaroo’s Rs 120 crore IPO subscribed 28% on first day

Shemaroo LogoBollywood content aggregation company Shemaroo’s Rs 120 crore IPO saw significant participation from retail investors, with the retail allocation subscribed 53%. However, no participation from Qualified Institutional buyers and limited participation from Non Institutional Investors, meant that the company closed the first day with 28% of the offer subscribed. 

Bids were evenly spread across the Rs 155-Rs 170 price band, with a maximum of 1.43 million bids at the Rs 155 level, and the lowest at cut-off at 1.2 million. For most price points, bids were around the 1.4 million mark. IPO’s bids typically peak on the last day.

The company had sold 2,117,605 shares at Rs 170 with anchor investors for Rs 36 crores on September 15th, before the IPO opened. Investors mostly included funds from HDFC and Birla Sun Life, with HDFC picking up around 55%, and Birla Sun Life picking up the remaining 45% of that issue.

shemaroo-ipo-day1

Shemaroo’s consolidated total income was at Rs 265.95 crore in FY14, up 23.1% year-on-year (YoY). The profit after tax was at Rs 27.27 crore in FY14, up 16.3% YoY while EBITDA was at Rs 65.69 crore, up 11.9% YoY. The consolidated net worth of Shemaroo as of March 31, 2014 is Rs 174.45 crore. Its group company, Think Walnut, posted total sales of Rs 1.82 crore for FY14, up from Rs 0.65 crore in FY13. The net loss was at Rs 0.19 crore for the fiscal, as compared to Rs 1.3 crore loss in FY13.

Notes from the IPO filing:

– Content Library: Shemaroo’s content library consists of more than 2,900 titles. This includes 759 titlesover which it has complete ownership rights (of which 355 are Hindi films, 364 are regional films and 40 are “special interest content” like devotional and kids content) and 2,159 titles over which it has Aggregation Rights, of which 1289 are Hindi films, 728 are regional films and 142 are special interest titles.

Advertisement. Scroll to continue reading.

– New Media Tie-ups: Shemaroo notes that it has tied up with more than 100 labels or content providers to offer content on new media platforms (mobile, Internet, DTH and other apps). This includes music, videos, imagery content, games, applications, celebrity chats, text content, and voice based services among others.

– Online video: Shemaroo has tied up as an official channel partner on YouTube and is currentlymanaging 32 channels on the service. This includes Shemaroo Movies, Shemaroo Entertainment and Filmi Gaane among others. Besides this, it has agreements with video on demand services like Daily Motion, Yahoo India and Spuul among others.

– Owns 50% stake in Vistaas Digital: Shemaroo had acquired 50% stake in the devotional content provider Vistaas Digital Media Private Limited for Rs 10.61 crore in October 2010. This was to secure devotional content for its new media initiatives.

– Content Management partnerships: Shemaroo mentions that it is moving beyond just content aggregation to provide content management solutions to various partners. This includes powering the Re 1 WAP store for Reliance Communications and offering interactive devotional service iDarshan for Airtel Digital TV. Note that Shemaroo had also partnered with MTS India to offer its devotional service ‘iDivine‘ as a value added service for MTS MBlaze subscribers in September last year.

More from the IPO filing, including shareholding structure details, here.

Advertisement. Scroll to continue reading.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ