Shemaroo Entertainment ends at Rs 171/share on NSE

MUMBAI: Newly listed Shemaroo Entertainment ended the first day of trade on a positive note even as most investors remained on sidelines ahead of truncated week.

It closed at Rs 171, up 0.59 per cent, on the NSE. It touched a high of Rs 182 and a low of Rs 171 in trade today.

The stock had listed at Rs 180 on the BSE, a premium of 5.88 per cent to issue price of Rs 170. Retail investors were given 10 per cent discount in the IPO.

The IPO had got good response from investors and was oversubscribed 7.39 times.

The company has raised Rs 120 crore towards funding of working capital requirement. Through this offer, the promoters have lowered their holding from to 70 per cent from 92 per cent.

Shemaroo Entertainment is as an established integrated media content house in India with activities across content acquisition, value addition to content and content distribution.

The Company distributes content through various mediums such as (i) television such as satellite, terrestrial and cable television; (ii) New Media platforms consisting of mobile, internet, direct to home (“DTH”) and other applications; (iii) home entertainment and (iv) other media.