Top Story

e4m_logo.png

Home >> Media – Print >> Article

Decks cleared for Indian Express to launch IPO towards end of 2005

24-August-2005
Font Size   16
Share
Decks cleared for Indian Express to launch IPO towards end of 2005

Following an agreement between the Vivek Goenka-promoted The Indian Express Newspapers (Mumbai) Ltd and Manoj Kumar Sonthalia’s Express Publication Madurai Ltd (New Indian Express), arrived at on August 12, 2005, The Indian Express has decided to launch its IPO by November or early December this year.

Shekhar Gupta, CEO and Editor-in-Chief, The Indian Express, confirming the development to exchange4media, said, “The Indian Express is on a growth path, and to accelerate further growth, we are looking to tap the capital market.”

It may be recalled that following the passing away of Ramnath Goenka, the settlement arrangement between Vivek Goenka and Sonthalia (New Indian Express) had envisaged that in case of any future sell-off of the business or the brand, the first right of refusal would be with both. Sonthalia has rights to publish the New Indian Express in Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Orissa.

Vaidehi Thakkar, Director, Legal and Property, Express Group, informed that with this amendment to the original document, the hurdle to an IPO had been crossed. She said, “Both the companies had pre-emptive rights, and now certain amendments have been made which facilitates both the companies to opt for an IPO.”

However, on the size of IPO and price band of the shares, she said, “It is too early to comment.”

Tags

Our typical marketing budget is usually 10 per cent of the topline spend

There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...

The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.

<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...

The interesting animated rap music video encapsulates Droom’s ecosystem tools and their role in facilitating second-hand automobile transactions

Perfumes are invisible and these new ads from Skinn create a story out of this

New campaign aims at first-time users by providing ‘first-night free’ – a first-ever offering by the brand on online hotels booking