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Tuesday, March 02, 2010

DQ Entertainment IPO to open on March 8

DQ Entertainment (International) (DQE), the Animation, gaming and entertainment production and distribution company, is entering capital market with an initial public offering (IPO) of 1,60,48,011 shares on March 3, 2010.

The price band and the minimum bid lot will be announced by the company at least two working days prior to the issue opening date.

The price of the issue, which will close on March 10, will be determined through the 100% book-building mechanism.

Its promoter DQ Entertainment (Mauritius) Limited's holding will be reduced to 75% post issue.

The company had raised Rs 25.69 crore in a pre-IPO placement in previous month. IDFC had subscribed for Rs 20 crore worth of shares under its IDFC Hybrid Infrastructure Portfolio.

The issue proceeds will be utilised for investment in co-production agreements, focusing on IP content creation; development of office premises and production facilities; development of infrastructure and additional facilities at the SEZ Unit, Kokapet Village, Rangareddy District, Andhra Pradesh and investment in subsidiary, DQ Entertainment(Ireland) Limited.

For the period of six months ended on September 2009, it has reported net profit of Rs 10.17 crore on total income of Rs 73.75 crore.

The equity shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE). The book running lead manager to the Issue is SBI Capital Markets Limited.

DQE is one of the leading producers of animation, visual effects, game art and entertainment content for the Indian as well as global media and entertainment industry. With a workforce of over 2800 permanent employees and a global client - partner base of over 90 producers, distributors, broadcasters and licensors including Walt Disney Television Animation, Nickelodeon Animation Studios Inc., Electronic Arts, Marvel Comics, American Greetings, NBC-Universal, BBC Group, M6/ France TV/ TF-1 Broadcasting groups from France, ZDF Germany and many more world-wide.

DQE's production facilities are based in Hyderabad, Mumbai and Kolkata and it has international sales representatives in Los Angeles, Paris and Tokyo.

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