Thursday, March 4, 2010

DQ Entertainment to raise 16.05-million for its share initial public offer

Animation and gaming firm DQ Entertainment (International) Ltd said on Thursday it has fixed a price band of 75-80 rupees a share for its 16.05-million share initial public offer.
The funds raised from the issue will be used for investment in co-production agreement, development of production units and office facilities, investment in its Ireland unit and for general corporate purposes.
In February, DQ raised 256.9 million rupees through a pre-IPO share sale to IDFC Investment Advisors and other corporate and high net worth investors, with IDFC taking the largest chunk of shares worth 200 million rupees.
The issue will constitute 20.24 percent of the post-issue capital.
DQ has produced/co-produced and distributed brands such as Iron Man -- the first 3D animated TV series, Twisted Whiskers, Casper, third season of Mickey Mouse Clubhouse and is now producing properties like Little Prince and Little Nicolas.
SBI Capital Markets will manage the issue that is set to open March 8 and close March 10.

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