South India based entertainment & media company Midvalley Entertainment Limited (MVEL) has opened its (IPO) initial public offering for subscription from today. The company has set price band at Rs.64-70 per share for its Rs.60 crore IPO. The issue will close for subscription on January 11. Bids can be made for 95 equity shares and in multiple of 95 shares thereafter.
It is a film production, distribution and exhibition company, actively engaged in the media and entertainment industry in South India. It has presence in the media and entertainment activity from concept to completion i.e. from script to screen. It produces, distribute and exhibit movies both in Indian and foreign languages.
Equity shares are likely to be listed on Bombay Stock Exchange (BSE).
Subscribe or not this IPO: We are looking a decent growth in this company. But at this market situation we do not recommend you to subscribe this IPO.