Media and entertainment company UTV Software Communications Ltd has filed a draft prospectus with the Securities and Exchange Board of India for its initial public offer for 59.99 lakh (5.99 million) shares of Rs 10 each.

The proceeds of the IPO would be used for enhancement of production facility and office infrastructure, investment in the Kids channel Hungama and working capital requirements, the company said in a release on Friday.

The public offering, being made through 100 per cent book building route, would comprise of fresh 30 lakh (3 million) equity shares and an offer for sale of 29.99 lakh shares (2.99 million), the release said.

The offer includes 299,000 equity shares for employees and the net issue of 57 lakh (5.7 million) shares to public would constitute 31.68 per cent of the fully diluted post issue paid-up capital of the company, it said.

Enam Financial Consultants is the book running lead manager to the public offering. These shares are proposed to be listed on the Stock Exchange, Mumbai (BSE) and the National Stock Exchange.