Top Story


Home >> Media – Print >> Article

Decks cleared for Indian Express to launch IPO towards end of 2005

Font Size   16
Decks cleared for Indian Express to launch IPO towards end of 2005

Following an agreement between the Vivek Goenka-promoted The Indian Express Newspapers (Mumbai) Ltd and Manoj Kumar Sonthalia’s Express Publication Madurai Ltd (New Indian Express), arrived at on August 12, 2005, The Indian Express has decided to launch its IPO by November or early December this year.

Shekhar Gupta, CEO and Editor-in-Chief, The Indian Express, confirming the development to exchange4media, said, “The Indian Express is on a growth path, and to accelerate further growth, we are looking to tap the capital market.”

It may be recalled that following the passing away of Ramnath Goenka, the settlement arrangement between Vivek Goenka and Sonthalia (New Indian Express) had envisaged that in case of any future sell-off of the business or the brand, the first right of refusal would be with both. Sonthalia has rights to publish the New Indian Express in Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Orissa.

Vaidehi Thakkar, Director, Legal and Property, Express Group, informed that with this amendment to the original document, the hurdle to an IPO had been crossed. She said, “Both the companies had pre-emptive rights, and now certain amendments have been made which facilitates both the companies to opt for an IPO.”

However, on the size of IPO and price band of the shares, she said, “It is too early to comment.”


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