Top Story


Home >> International >> Article

Public issue of Mid-Day Multimedia Ltd oversubscribed

Font Size   16
Public issue of Mid-Day Multimedia Ltd oversubscribed

The recently concluded public issue of Mid-Day Multimedia Ltd. was oversubscribed 1.6 times the book amount of Rs 45 crore. The institutional portion of the issue, which consists of 60 per cent of the book, was oversubscribed 1.65 times.

The total number of bids received were around 1,000 for about 1.06 crore shares. The applications included individuals, corporate bodies and local financial institutions.

Applications of foreign institutional investors (FIIs), non-resident Indians and overseas corporate bodies were rejected by merchant bankers. This was in line with the assurance given to the Securities and Exchange Board of India by the bankers after the issue got embroiled in a controversy regarding the participation of FIIs and other foreign entities in print-media companies.

The floor price per share, for which applications were received through book building, was pegged at Rs 70. Ninety per cent of the issue was reserved for applications through book building, while the balance was reserved for the fixed-price portion.

The total size of the issue was of Rs 50 crore.


Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams

Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular