ManagementDQE India plans IPO to raise Rs 150 cr
Animation and gaming firm DQE India is planning to hit the capital market initial public offer to raise Rs 150 crore to part finance its expansion plans.
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The company, a wholly owned subsidiary of London-listed DQ Entertainment, has filed a Draft Red Hearing Prospectus (DRHP) with Sebi and is expecting an approval soon, DQE India"s Chief Executive Officer Tapaas Chakravarti told reporters here today.
The company has decided to invest Rs 212 crore towards expansion projects like enhancing its distribution network and adding manpower.
Of this, Rs 150 crore would be raised through an IPO while the remaining funds would come from internal accruals and debt, Chakravarti said.
"We have been growing rapidly at CAGR of 35 per cent. Our bottom line has also been impressive. To maintain this growth rate we are planning to expand and will add manpower in a big way. Our order book is pretty good," he added.
At present, the company has a workforce of around 3,000 people and planning to add 600 more this year. It also has a partner base of over 90 producers, distributors, licensors including Walt Disney Television Animation, Nickelodeon Animation Studios Inc and BBC Group, and will soon enter into some more tie-ups.
The firm today announced the launch of an animated version of 104 six-minute episodes inspired by the legendary film maker Charlie Chaplin.