Den Networks IPO subscribed fully on final day
Cable television firm Den Networks’ public offer got fully subscribed today, the final day of its issue.
The initial public offer (IPO) got bids for 1.83 crore shares against 1.76 crore equity shares on offer, according to the data with the National Stock Exchange (NSE).
The issue, through which the company aims to garner up to Rs 410 crore, has come out in the primary market with a total issue size of two crore shares.
The company has already sold 23.95 lakh equity shares to anchor investors on a private placement basis.
The IPO priced between Rs 195 and Rs 205, opened on October 28.
The IPO proceeds would be used to fund the company’s infrastructure and services expansion and acquisition of content and broadcasting rights amongst others. Den services about one crore households, of which about three lakh are on the digital platform.
