Top Story

Home >> Media–Print >> Article

Deccan Chronicle seeks Rs 200 cr private equity funding

17-July-2004
Font Size   16
Deccan Chronicle seeks Rs 200 cr private equity funding

The Hyderabad-based Deccan Chronicle Holdings Ltd (DCHL)is scouting for private equity of Rs 200 crore. The company, according to market sources, has already appointed ICICI Securities Ltd (ISec) to look out for parties interested in picking up the equity.

DCHL’s top managment could not reached for comment. An ICICI Securities executive said he could neither confirm nor deny the news.

T V Venkattram Reddy, chairman, DCHL, and the company’s executive director, P K Iyer, could be reached for comments. A fax sent to P K Iyer on July 15 seeking clarification on the subject did not evoke any response.

A merchant banker based out of Hyderabad said DCHL was originally planning raise funds through a combination of private placement and IPO. “Now they may have changed their plans and decided to go for a complete private placement,” sources in Hyderabad said.

In December 2003, the company had raised Rs 57.50 crore secured redeemable taxable cumulative non-convertible debentures (NCDs) by way of private placement.

The offer document placed with National Stock Exchange, while raising the NCDs states the company’s investment plans. Prominent among its plans for was a proposed Chennai edition.

The offer document placed with the wholesale debt market said, “The company is acquiring two new presses f or their Hyderabad unit. Besides the company plans to incur infrastructure capital expenditure for its new units at Chennai, Kondapur (Hyderabad) and at Cuddapah. The total cost of the above projects is expected to be Rs.62.20 crore. The proceeds of the present issue of debentures would be utilised for the above modernisation, expansion project of the company and normal capital expenditure. The expenses of the present issue would also be met out of the proceeds of this offer.”

Tags

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

Shantanu Gangane says OTT platform Viu plans around 20+ originals and is all set to enter the Tamil market with a mix of syndicated and original content

right
left
OFF THE CUFF HAS JOURNALIST ARUN SHOURIE IN CONVERSATION WITH SHEKHAR GUPTA IN MUMBAI IAA HOSTS FIRST INDIAA REGIONAL AWARDS (TELUGU) IN HYDERABAD BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS TOP INDUSTRY PERSONALITIES ATTEND ZOOM-MYNTRA EVENING TO CELEBRATE THEIR PARTNERSHIP LEADING MARKETERS, EXPERTS SHARE INSIGHTS ON DIGITAL TRANSFORMATION @ADOBE SYMPOSIUM IN MUMBAI NICKELODEON TRADE PARTY SEES MARKETING INDUSTRY LEADERS AND THEIR FAMILIES IN ATTENDANCE GOLDEN MIKES RADIO ADVERTISING AWARDS 2018 RECOGNIZE INDUSTRY’S MOST DESERVING ACHIEVERS AIMA MANAGING INDIA AWARDS HONOUR THE BEST IN THE INDUSTRY BW BUSINESSWORLD’S GREAT INDIA DEBATE BRINGS TOGETHER INTELLECTUALS ACROSS INDUSTRY SECTORS BW BUSINESSWORLD SMART CITIES CONCLAVE PATNA 2018 SEES EMINENT INDUSTRY LEADERS IN ATTENDANCE EMINENT JURY PICKS WINNERS OF GOLDEN MIKES RADIO ADVERTISING AWARDS MADDYS 2018 SEE TOP ADVERTISING AND MARKETING INDUSTRY LEADERS IN ATTENDANCE

Gaurav Dua, Executive Director, Relaxo Footwears talks to exchange4media about the brand's re-branding, marketing strategy, future plans and much more

The brand through its campaign is helping Indian professionals imbibe the new work-culture while making an effortless style statement at their workplace

In this campaign, the brand MRF tyres intends to communicate their proposition of 'comfort made more comfortable'