Top Story

e4m_logo.png

Home >> Media - Others >> Article

DB Corp eyes further expansion through IPO; expects to raise around Rs 385 cr

10-December-2009
Font Size   16
Share
DB Corp eyes further expansion through IPO; expects to raise around Rs 385 cr

Media house DB Corp, which publishes Dainik Bhaskar, on Wednesday, December 9, 2009, announced that it would enter the capital markets with its IPO of 1.81 crore equity shares on December 11, 2009 at a price band of Rs 185-Rs 212. It is also learnt that through this IPO, DB Corp aims to raise around Rs 385 crore from the market.

The issue, which constitutes about 10 per cent of the fully diluted post-issue capital of the company, will close on December 15, 2009. It is also learnt that about 7 per cent of the issue will be fresh offering, while the remaining 3 per cent constitutes an offer for sale by Cliffrose Investment Ltd, an affiliate of private equity firm Warburg Pincus.

The company intends to use the proceeds of the issue for expanding and strengthening its existing markets, launching publications in new markets and upgrading its existing machinery in some centres, apart from repayment of its term loans. One of the reasons for launching the IPO is to further grow and expand its business. DB Corp reportedly aims to raise around Rs 385 crore through this IPO.

It has also been learnt that the company intends to pay Rs 130 crore as debt out of the total of what the company is earning.

Girish Agarwaal, Non-Executive Director, DB Corp, said, “Our focus will be a lot on consolidating our position in existing markets by launching new products, and through the IPO, we aim to further grow and expand our business. After the IPO launch, we are expecting to raise around Rs 385 crore. The year 2009 has been a good year for Dainik Bhaskar, during which it has seen a growth of 10 per cent.”

Tags

Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

With 17 partners and sponsors across categories, the scale of Tata Mumbai Marathon comes across as commendable as it has managed to clock 44,407 registrations and set prize money of US$405,000

In top five programmes of BARC week 2, Zee TV’s prime time shows Kundali Bhagya and Kumkum Bhagya grabbed the first two position with 12533 Impressions (000s) and 11275 Impressions (000s). The re-run...

According to Flurry’s “State of Mobile 2017” annual wrap-up report, Lifestyle and Gaming Apps categories are on a decline