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

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 picking up the remaining 45% of that issue. 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…

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Written By

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

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