UFO Moviez’s IPO Provides Partial Exits for 3i Group and Providence Equity Partners (Asia)

Source: UFO Moviez, LiveMint  |  Author(s): Ravindra Sonavane

India-based digital cinema distribution company UFO Moviez has completed an initial public offering (IPO) on the Bombay Stock Exchange and the National Stock Exchange, providing partial exits for international investment firm 3i Group and private equity firm Providence Equity Partners. UFO Moviez raised INR6 billion (approximately US$94 million) in the IPO, with shares priced at INR625 (approximately US$9.77) apiece. Post-IPO, 3i Group and Providence held a 20 percent stake and a 10 percent stake, respectively, in the company.