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3i realises £17m in UFO Moviez’s IPO

3i Group plc ("3i") is pleased to report that UFO Moviez India Limited ("UFO Moviez"), India's largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens) has completed its Initial Public Offering ("IPO") on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, INTO THE UNITED STATES OR TO THE UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

 

UFO Moviez offered 9.6 million equity shares ("Equity Shares") at INR 625 per Equity Share. As part of this IPO, 3i reduced its stake in UFO Moviez from 21.5% to 10.3%. Total proceeds to 3i were approximately £17 million (INR 1.6 billion) and, at the offering price, 3i's remaining 10% stake was worth approximately £17 million (INR 1.7 billion). Together, this represents a circa £6 million uplift over the 31 March 2015 valuation of 3i's stake of £28 million. In sterling terms, these proceeds take 3i's cash return to date from its investment in UFO Moviez to 1.7x and, including remaining value, to 3.0x.

A copy of the prospectus can be obtained from the web site of the Securities and Exchange Board of India at www.sebi.gov.in and the websites of the Global Coordinators and Book Running Lead Managers ("Managers") at www.axiscapital.co.in, http://www.online.citibank.co.in/rhtm/ citigroupglobalscreen1.htm and websites of BSE & NSE i.e. www.bseindia.com and www.nseindia.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in the United States or any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

This announcement is for distribution in India and is not for distribution, directly or indirectly, in or into the United States. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. There will not and is not currently intended to be any public offering of securities in the United States. Accordingly, the Equity Shares are only being offered and sold (i) in the United States only to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from the registration requirements of the U.S. Securities Act and (ii) outside the United States in compliance with Regulation S under the U.S. Securities Act.

-Ends-

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For further information, contact:

3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Latika Shah
Tel: +44 20 7975 3157
Email: latika.shah@3i.com

Notes to editors:

About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management across Europe, North America and Asia. For further information, please visit: www.3i.com.

About UFO Moviez

UFO Moviez is India's largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens), as at October 31, 2014, according to CRISIL and operates India's largest satellite-based, digital cinema distribution network (in terms of numbers of screens) using UFO Moviez's UFO-M4 platform, as well as India's largest D-Cinema network (in terms of numbers of screens), according to CRISIL.

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i India.

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