Hindi Daily Amar Ujala is set enter the capital market with their fresh Initial Public Offering (IPO). According to media reports the proposed size of IPO is Rs 300 crore and this would result in dilution of 30 per cent of equity capital of Amar Ujala.
It can also be highlighted that the amount will be raised through a mix of fresh issue and secondary sale by shareholders.
Media report suggests that Amar Ujala promoter may offer 15 per cent The Hindi daily had filed draft papers with capital markets Security Exchange Board of India (SEBI) to increase funds via an Initial Public Offer in March this year.
Post this IPO, Amar Ujala will join the wagon of listed media companies. Till now there are three Hindi newspapers listed in Bombay Stock Exchange - Dainik Jagran, Dainik Bhaskar, Hindustan.