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DQ Entertainment India (DQEI), the Hyderabad-based animation, gaming & entertainment production and distribution company, will be beginning its initial public offering (IPO) on March 8, 2010.

The IPO will comprise of around 16.05 million shares of Rs. 10 each for cash. The offer price of the shares for issue will be determined through the 100% book-building mechanism in accordance with the SEBI Regulations 2009.

Prior to the IPO, DQEI completed a pre-IPO placement to raise Rs. 256.99 million shares (equivalent to approximately £3.45 million) through a placement 3.77 million equity shares. IDFC has been allotted a major chunk of these equity shares under its IDFC Hybrid Infrastructure Portfolio.

A portion of funds raised via the IPO would be utilised by DQEI for expanding its operations. The IPO will close on 10 March, 2010. The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE).