EROS International Media IPO hits capital market

The Initial Public Offering (IPO) of EROS International Media Limited hit the capital market today. The company has come out with IPO of 18551898 shares aggregating to Rs. 3,500 million (including anchor portion of 3600000 shares).

The IPO has been priced at a price band of Rs. 158/- TO Rs. 175/- through 100% book building process. The Minimum Order Quantity is 40 Equity Shares and in multiples of 40 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs 100000.

The IPO received subscription of 0.53 times till 3:00 PM on September 17, 2010. The IPO received bids for 9774200 equity shares against the offer of 18551898 equity shares. The issue received bids for 1455720 equity shares at cut-off price.

The rating agency CARE has assigned IPO Grading of IPO Grade 4.

Enam Securities Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and RBS Equities (India) Limited are the Book Running Lead Managers to the IPO. Kotak Securities Limited is the Syndicate Member to the IPO.

Link Intime India Private Limited is the registrar to the company. The IPO closes for subscription on September 21, 2010.

Source : Equity Bulls

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