Shares of UFO Moviez on Thursday got listed at Rs 600, a 4 per cent discount to the IPO price of Rs 625 on the NSE, and were currently trading at a discount of Rs 614.20 (10.30 am IST).

UFO Moviez India had raised Rs 600 crore through initial public offering, which came at a price band of Rs 615-625 a share. The public offer by UFO Moviez was subscribed twice compared to the shares on offer.

So far, about 14 lakh shares on the NSE and 3.7 lakh shares on the BSE exchanged hands.

Earlier, the company had raised Rs 180 crore by allotting 2.88 million equity shares at Rs 625 per share to anchor investors such as Reliance Capital, Reliance Mutual Fund, SBI Mutual Fund, Pinebridge Global Funds, Royal Bank of Scotland, Jupiter South Asia Investment Company, Amundi Funds, Ashmore SIC, Kotak Mutual Fund and Bharti Axa Life Insurance Company.

The objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges and for the sale of equity shares by the shareholders, who include 3i Research (Mauritius), P5 Asia Holding Investments (Mauritius), Sanjay Gaikwad (Managing Director), Narendra Hete, Valuable Media, Valuable Technologies, Raaja Kanwar, Prafulla Vaidya, Uday Gaikwad and Rakesh Gupta.

UFO Moviez is a digital cinema distribution network and in-cinema advertising platform provider to producers, distributors and exhibitors (multiplexes, multi-screen theatres). It operates in a kind of niche space.

The company provides digital prints to ensure secured delivery of movies, resulting in quick and large-scale release across geographies simultaneously. It also leases out digital equipment to movie exhibitors. In addition, it has developed a platform where companies can place advertisements to reach a wide audience.

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