UFO Moviez makes lacklustre debut, lists 4% below issue price

Shares of digital cinema distribution firm UFO Moviez India made a lacklustre debut on the bourses on Thursday listing at 4%below the issue price of Rs 625.

The stock debuted at Rs 600, showing a fall of 4% against the issue price on the BSE.

At the NSE too, it listed at Rs 600. Later, the stock was trading at Rs 615.20, down 1.56%.The company has a market valuation of Rs 1,593.35 crore.

The initial public offer of UFO Moviez India was subscribed more than two times last month.The price band for the issue had been fixed at Rs 615-625.

The company has reported revenue of Rs 357.2 crore for the first nine months of financial year 2015, with a profit after tax of Rs 40.6 crore.

UFO Moviez operates India's largest digital cinema distribution network and in-cinema advertising platform (in terms of number of screens) as of October, according to ratings and research agency Crisil.