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The Lowdown – Shemaroo IPO; Digital tie-ups, Distribution, Rights & More

Bollywood content aggregation company Shemaroo Entertainment has set a price range (pdf) of Rs 155 - Rs 170 per equity share for its initial public offering (IPO) that is set to open next week (September 16) and close two days later (September 18). The company is looking to raise Rs 120 crore from this offering by selling 7.7 million shares (7,741,885 shares). Subscribers will have to bid for a minimum 85 shares or in multiples of 85 shares. Of the total shares offered, 60% will be offered to qualified institutional buyers (QIBs). The company has also offered a 10% discount to retail subscribers. Of the Rs 120 crore, Shemaroo plans to use Rs 106 crore to fund its working capital requirements. It plans to use Rs 80 crore in FY15 and Rs 26 crore in FY16. The remaining amount will be used for expenditure from general corporate purposes like brand…

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