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Thursday, March 4, 2010

DQ Entertainment's IPO price band at Rs 75-80

Animation company DQ Entertainment (International) today said it has fixed the price band of its initial public offer at Rs 75-Rs 80 per share.

The company would offer a discount of Rs 7 on the issue price of IPO that will be determined after the completion of offer, it said in a public announcement.

DQE, engaged in animation, gaming and entertainment production and distribution, is coming out with an issue size of 1.60 crore equity shares. The IPO opens on March 8 and will close on March 10.

At the upper band of price range, the company would be able to raise up to Rs 128 crore.

According to the company, it "may consider participation by anchor investors".

Last month, the company had said it has raised Rs 25.69 crore through a pre-IPO placement of equity shares with IDFC Investment Advisors and other corporate & High Networth Individuals.

IDFC was allotted equity shares of Rs 20 crore under its IDFC Hybrid Infrastructure portfolio. Equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange. The IPO is based on a 100 per cent book-building process.

SBI Capital Markets is the sole book running lead manager to the issue.

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