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The IPO for the Hyderabad-based animation firm DQ Entertainment (DQE) will be opening today, March 8 2010, where the company will be offering 16,048,011 equity shares Rs. 10 each.

DQE has set the price band for the shares to be issue between Rs. 75 and Rs. 80 per Equity Share. The price band has been arrived at in consultation with SBI Capital Markets Limited, the book running lead manager.

The fund raised by means of the IPO is expected to be utilised by DQE for content creation, developing the infrastructure and to equip its unit in Andhra Pradesh with additional facilities. A part of the funds would also be invested by the parent company, DQ (International) Entertainment in its subsidiary at Ireland.

The issue is expected to bring around Rs 128-150 crore for DQE. The Company has completed a pre-IPO placement for Rs. 25.69 crores with IDFC Investment Advisors Limited and other corporate investors and high net worth individuals.

The IPO closes on March 10, 2010. The offer price is being looked upon as quite expensive. Wile, as the animation industry is booming in the sub-continent, the company is expected to provide promising returns.