To meet the growing industry need, today, Shree Ashtavinayak feels a pressing need for expansion. Keeping this mind, the company has lined up a number of releases which are to be released in the near future.
As part of this expansion plan, the company also proposes to purchase various film equipments that it currently sources, externally. This has been planned to minimize costs and reduce dependency, leading to better planning and time management. All these efforts will help increase productivity and efficiency.
Some of the equipment that the company plans to acquire are:
- Post production equipments
- Dubbing studios
To fund its expansion programme and the production of three films, Shree Ashtavinayak has come with its Initial Public Issue of 37,28,000 equity shares of Rs.10 each with the price band of Rs. 140/- to Rs. 160./- per share through 100% book building process in the month of December 2006. The IPO has received an overwhelming response from investors and oversubscribed 6 times. The company raised Rs. 59.64 cr with cut off price being fixed at Rs. 160/- per share. The equity shares are listed on BSE and NSE on 10th January 2007 with the substantial premium over the issue price thereby generating decent return on listing from investors. Thus, the new year 2007 started on a good note with Bhagambhag continuing to receive accolade from audiences and a grand salutation to equity shares of the company on listing on stock market