Top Story

e4m_logo.png

Home >> Media – Print >> Article

DB Corp IPO oversubscribed by 39.3 times; raises Rs 336-385 cr from the market

16-December-2009
Font Size   16
DB Corp IPO oversubscribed by 39.3 times; raises Rs 336-385 cr from the market

DB Corp Ltd, the publisher of Hindi daily Dainik Bhaskar, Gujarati daily Divya Bhaskar, Hindi business daily Business Bhaskar and My FM radio services, closed its IPO on December 15, 2009. The group’s IPO was oversubscribed by 39.6 times, thus showing the rejuvenation of the primary market and the confidence placed by the investors in the company.

The IPO was set at a price band of Rs 185-Rs 212 per share with an offering of 1.8 crore shares. Based on the price band, Rs 336-385 crore has been raised from the market.

The money raised will be used to consolidate the group’s position in existing markets by upgrading infrastructure and also to expand to new geographies. It plans to utilise Rs 110 crore to repay debts.

The company focuses on Tier II and Tier III cities, where consumption is growing at a faster pace and is higher than the Tier I towns. There is a tremendous shift in the advertising pie in print, whereas in 2003 regional media used to account for 40 per cent of the share, in 2008 it rose to 54 per cent.

The whole IPO has been managed by Concept Communications, while the TVC and the corporate ads have been created by Euro RSCG. The campaign worked primarily to build in the association of DB Corp with the brands it has. And the growth story of the group was the main focus of the communication.

Tags

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

Meanwhile Radio City and Radio Mirchi ruled Bangalore and Kolkata respectively

Pankaj Belwariar, who recently resigned from the post of Vice President Marketing at Sakal Media Group, has now joined Rajasthan Patrika as the Head of Marketing in North and East region.

A look at Vivo’s ad campaign with their all-new brand ambassador Aamir Khan, which has fetched them a whopping 21 million views on YouTube