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Shemaroo’s Rs 120 crore IPO subscribed 1x on day 2

Bollywood content aggregation company Shemaroo's Rs 120 crore IPO saw significantly more participation on day 2, with the retail investor allocation being oversubscribed at 126%, and Qualified Institutional Buyers (QIBs) finally putting in bids.  QIBs bought around 23% of their total allocation, while Non institutional buyers picked up only around 6% of their total allocation. Once again, bids were evenly spread across the Rs 155-Rs 170 price band, with a maximum of 5.75 million bids at the Rs 155 level, and the lowest at cut-off at 4.78 million. For most price points, bids were around the 1.4 million mark. IPO bids typically peak on the last day. Shemaroo 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%,…

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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

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

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