Bollywood 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…
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