Top Story

e4m_logo.png

Home >> Media – Print >> Article

Deccan Chronicle plans overseas float

17-June-2005
Font Size   16
Deccan Chronicle plans overseas float

Deccan Chronicle Holdings plans to raise funds from overseas market. P K Iyer, executive director, Deccan Chronicle Holdings, told Business Standard:

“The government policy now allows us to explore various possibilities of raising funds. We will place before the board on June 22 a proposal to float either a foreign currency convertible bond (FCCB) issue or an equity placement or even roping in a strategic partner.”

According to Iyer, though the company is not short of funds, the government’s policy on foreign investment has given the management a larger universe to explore new opportunities.

The stock of Deccan Chronicle gained 15.73 per cent to close at Rs 214.1 on Bombay Stock Exchange.

Another media group, Mid Day Multimedia, however, does not have any plan to raise money abroad.

Manajit Ghoshal, chief financial officer, Mid Day Multimedia, said that this would give oppurtunity to FIIs to invest more in media stocks. Ghoshal stated that the company would look at suitable investment opportunities.

The company said it would defintely consider printing some of the foreign newspapers if approached but would not print a fascimilie edition of an eveninger.

TV 18 said that it was not looking at any strategic foreign partner at this point as the company already had one.

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

In an exclusive data shared with e4m, Pan Masala/Zarda/Gutkha had the highest jump of 185 per cent in terms of ad volumes in the first 14 matches

Bose, who has a career spanning over two decades, was DNA’s Editor-in-Chief. He has previously been associated with the India Today Group

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 compe...