DQ Entertainment Stock Rises on Release

India-based animation and games company DQ Entertainment officially listed its stock March 29 on the Indian capital markets, and posted surges in value as high as 75 percent its first day of trading.

The shares were initially offered at the price of 80 rupees (about $1.78 U.S.) and closed at 112.25 rupees (about $2.50 U.S.), an increase of about 40 percent.

The company raised about $34 million from its initial public offering and will use the funds to develop production ventures and invest in overseas joint ventures.

DQ has produced or co-produced animated projects featuring such iconic brands as Iron Man, Casper and Little Prince. Its current projects include a new animated series based on The Jungle Book, as well as visual effects and video game work.