Cinemax to list on NSE/BSE on 14 February

MUMBAI: Cinemax India will list at the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on 14 February, 2007 with 89,20,000 equity shares on the bourses.

The company has fixed the issue price at Rs 155 per share, the upper band of the IPO price band of Rs 135 to Rs 155 per equity share of Rs 10 each. The company had entered the capital market on 18 January, 2007 with a public issue of 89,20,000 equity shares of Rs 10 each.


The company plans to utilize the net proceeds of the issue to set up several theatres in various locations across India. As a part of their expansion plans, over the next two years, Cinemax is planning to set up 19 theatres at identified key locations in which a total seating capacity of approximately 15,864 seats will be created.


Cinemax’s Issue was subscribed 42.17 times at close of the issue on 24 January, 2007. The QIB portion was subscribed 60.62 times, Non Institutional Investors 44.22 times, Retail Individual Investors 15.73 times and Employee Reservation 0.41 times. More than 37.75 crore bids were received against issue size of 89.20 lakh shares and 4.60 crore bids at cut off price.


The issue will constitute 31.86 per cent of the fully diluted equity share capital of the company. The net issue will constitute 31.64 per cent of the fully diluted Equity share capital of the company. Enam Financial Consultants, JM Morgan Stanley, Edelweiss Capital and Ambit Corporate Finance are the Book Running Lead Managers to the Issue.

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