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%, and Birla Sun Life picking up the remaining 45% of that issue. Shemaroo Financials 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:…
