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The initial public offer (IPO) for DQ Entertainment’s India (DQE) vertical has received a healthy response. The IPO closed today, i.e. March 10, 2010. The animation industry is looking to list its equity shares on the Bombay Stock Exchange (BSE).

As per the data available on the NSE, the IPO was subscribed 85.78 times. Total bis received constituted to be for 111.35 crore shares as against issue size of 1.32 crore shares. The issue size excludes the shares for the anchor investors'.

The IPO opened on March 8, 2010. DQE offered over 1.60 crore shares (including anchor portion of 2.83 crore shares) at price band of Rs 75-80 per equity share of Rs 10 each.

DQE has already raised Rs 22.6 crore from five anchor investors, which includes Axis Equity Fund, Birla Sunlife, Morgan Stanley ACE Fund, T Rowe Price International Discovery Fund and IDFC Small and Midcap Equity Fund.

The company plans to utilise the funds raised by means of IPO for content creation, development of infrastructure as well as to establish additional facilities.

SBI Capital Markets is the sole book running lead manager to the issue.