Top Story

e4m_logo.png

Home >> Media – Print >> Article

Hindustan Media Ventures’ IPO on July 5; price band fixed at Rs162-175

02-July-2010
Font Size   16
Share
Hindustan Media Ventures’ IPO on July 5; price band fixed at Rs162-175

Hindustan Media Ventures Ltd is entering the capital market on July 5, 2010, with a public issue of equity shares of Rs 10 each for cash at a price (including a premium to be determined through a 100 per per cent book building process) aggregating up to Rs 2,700 million. The price band has been fixed between Rs 162 and Rs 175 per equity share. The issue closes on July 7, 2010.

The equity shares offered through the Red Herring prospectus are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The book running lead managers are Edelweiss Capital Ltd and Kotak Mahindra Capital Company Ltd.

In an earlier interview with exchange4media, Benoy Roychowdhury, Executive Director, Hindustan, had said that they were planning to raise around Rs 300 crore through this IPO. The money raised from the IPO would be used to clear company’s liabilities (around Rs 135 crore), while the rest would be kept aside for investment purpose.

Hindustan is the third largest daily newspaper in India with a readership of 9.3 million (Source: IRS, R2 2009). Hindustan Media Ventures Ltd also publishes two Hindi magazines – children’s magazine ‘Nandan’ and ‘Kadambini’, a general interest magazine.

Tags

The production house has already established itself as the leader in the non-scripted genres. However, Rege now wants Endemol to achieve the same in the original scripted zone and film production

Naidu also talks about the ushering in of a new era of digital payments and says this is just the beginning and there’s lots of space for newer players to step in and evolve

Markus Noder, Managing Partner, Serviceplan International, shared innovative tools, ideas and methodologies to generate tangible business values

The primary reason that led to growth of OTT is the constant improvement of internet speed and service across the country: Sandeep Gupta, ACT Fibernet

India has become the diabetes capital of the world, with prevalence of the disease estimated to rise from 69.2 million to 123.5 million by 2040

Laban Stretchy Man, the new human shaped, stretchy, fruit flavoured chews from Orkla- Norway’s number one confectionery brand, has been launched and localized by MTR Foods in India