Cinevista mops upRs 5250cr via book-building

Tuesday, February 22, 2000

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Cinevista mops upRs 5250cr via book-building

FEBRUARY 21: Media companies are clearly on the roll. After the stupendous performance of TV-18, its now the turn of Cinevista Communications Limited to score an ace. The company has received an over-whelming response for the book-building portion of its initial public offer (IPO). The book-building portion (of 19 lakh shares) has been over-subscribed by 90 times! The company has managed to mop up over Rs 5000 crore through the book-building route. The price has been fixed at Rs 300 per share, which is 50 per cent higher than the price band of Rs 175-200 indicated in the offer document. However, this is within the maximum price-range as mentioned in the issue advertisement. The IPO is slated to open on February 24.

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