The initial public offering of DQ Entertainment, the animation, gaming and live action entertainment production and distribution company, has opened for subscription today. The 1,60,48,011 equity shares IPO is being done through 100% book building process and will close on March 10, 2010. The price band for the issue is fixed at Rs 75 – Rs 80 per equity share of Rs 10 each.
Udayan Mukherjee, Managing Editor, CNBC-TV18, says the issue will do well. “Given the business and how it is shaping up, and given its order book, I do not think on next year’s earnings or next year’s revenues it’s that expensive a stock.”
He further says, the company will do well over Rs 200 crore revenues next year and well over Rs 35 crore in terms of profits. “I think it will be subscribed quite easily and you might see some listing gains too.”