HOME > BUSINESS > IPO drought over? Shemaroo to raise 120 cr this month

IPO drought over? Shemaroo to raise 120 cr this month

Film and entertainment rights holder Shemaroo Entertainment will kick-off its IPO process on Tuesday, when it will announce the dates on which the IPO will open.

shemaroo-entertainment-ip

The IPO is likely to be conducted within September.

There have been only two IPOs this year — those of Wonderla Holidays and Engineers India Ltd. Another one, Loha Ispaat Ltd, was withdrawn.

In the whole of 2013, there were only four IPOs.

The IPO market had dried up in the last four years in the aftermath of the global financial crisis. Many segments of the financial markets, including investment bankers and brokers, have been bearing the brunt of the long drought in the market.

A successful debut by Shemaroo would bring tens of companies to the market, including possibly ecommerce companies like Flipkart, which has been aggressive in building up its media profile in the last few months.

One of Shemaroo’s biggest competitors, Eros International, is already listed on the exchanges in India.

Shemaroo got the nod of the market regulator earlier this year to raise up to Rs 120 crore through an initial public offer (IPO).

The company filed its draft red herring prospectus (DRHP) in a year ago.

The company is also considering a “pre-IPO placement up to eight lakh equity shares aggregating up to Rs 10 crore”.

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