"The company has fixed a price band of Rs 115-130 for the public issue. The size of the issue would be Rs 91 crore (Rs 910 million) at the upper end of price band and Rs 80.5 crore (Rs 805 million) at the lower end of the band," Ronnie Screwvala, CEO, UTV Software Communications, said on Monday.
The issue proceeds would be used to enhance production facility, office infrastructure augmentation, investment in its children's channel Hungama TV and fund production, post-production and distribution of movies, Screwvala said.
The bid closes on February 25. The book running lead manager to the issue is Enam Financial Consultants Pvt Ltd and co-book running lead manager is IL&FS Investsmart Ltd.
UTV Director (operations & finance) Ronald D'mello said Rs 30 crore (Rs 300 million) would be infused for movie production and distribution channels while Rs 10 crore (Rs 100 million) would be for Hungama TV.
"The company will invest Rs 10 crore in augmenting office infrastructure and another Rs 6 crore (Rs 60 million) in post-production network of movies," he said.
The net issue to public would constitute 34.11 per cent of the fully diluted post issue paid-up capital of the company, he said.
The shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange, he added.
