Midvalley Entertainment Limited IPO : Subscribed 0.86 times on Day 1

by khalid on 11/01/2011 · 0 comments

The IPO of Midvalley Entertainment Limited has received a little response from the investors with the 1st day over-subscription figure reached to just 0.86 times on an overall basis. Midvalley Entertainment Limited IPO is open on 10th Jan 2011 and will get closed on 12th Jan 2011 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 1.89 times on the 1st day of subscription. The price band for the issue was Rs 64 at lower level and Rs 70 at upper level. Midvalley Entertainment is a multinational Media & Entertainment company operating from Chennai. Midvalley’s major businesses are Exhibition and Concept Theatres, Film Production, Distribution, Hospitality and Cine Advertising, etc.

The category-wise subscription status of IPO on closing of 1st day is given below:-

Qualified Institutional Buyers (QIBs) : 0.00 times
Non Institutional Investors : 1.32 times
Retail Individual Investors : 1.89 times
Overall : 0.86 times

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Sole Book Running Lead Manager (BRLM) to the offer is Aryaman Financial Services limited.

Registrar of the Issue : Cameo Corporate Services Ltd. Chennai.

Stay tuned to BelltheBull Blog for more on Midvalley Entertainment Limited IPO !

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