Vels Film International Limited raises funds from the Public for the first time through IPO
VELS FILM INTERNATIONAL LIMITED is one of the leading production companies in the film industry. As a first step of the new venture, it has offered shares to the public through ‘Initial Public Offering’ (IPO).
The official press release issued by the company regarding this states…
“Vels Film International Limited is a Chennai-based Film Production Company, which is also a registered member of the South Indian Film Chamber of Commerce. It is actively engaged in the business of film production, film distribution, and sales of film rights. Apart from the Tamil film industry, the production house has been actively operating in other regional languages also. It is worth mentioning that Dr. Ishari K Ganesh, Managing Director of the Company, is the son of tamil comedian actor Late Ishari Velan.
During this juncture, the company is raising funds from the public for the first time through the IPO to the tune of Rs.34 crores, which will be utilised for film production.
The company is getting listed in the National Stock Exchange under SME platform.
The price per share is fixed at Rs. 99 with an issue size of 34,08,000 shares.
The IPO commences on 10th day of March, 2023 and closes on 14th day of March 2023.
The IPO is open to different categories of investors, viz., Retail Investors, Non-retail investors etc as specified in the Prospectus, which is available in our website – www.velsfilminternational.com.
The Lead Manager to the issue is M/s Khambatta Securities Limited, Mumbai.
For other information relating to IPO, Please visit our Company’s website.
Further to it, our subsidiary Vels Studios and Entertainment Private Limited is developing a theme park in Bangaluru which has entertainment features like a film studio, amusement park, artificial fountain park, adventure games, etc. The final phase of its construction is in full swing, and it is expected to be inaugurated in the middle of 2023.