Den Networks IPO
Cable television firm Den Networks is entering the capital markets with an initial public offering of two crore shares.
The price band for the issue has been fixed at Rs 195-205. At the upper end of the price band, the company would raise Rs 410 crore. The issue will open on October 28 and close on October 30. Market Lot is 30 Equity Shares Minimum.
The shares will be listed on both the BSE and the NSE.
The issue would constitute up to 15-16 % of the post-issue paid-up equity share capital of the company; the net issue constituting 14.97 % of the post-issue paid-up equity share capital.
Qualified Institutional Buyers (QIBs) will be allotted 60 per cent of the shares, of which, up to 30 % will be allotted to anchor investors. HNIs will be allotted 10 % and retail investors 30 %.
The proceeds from the IPO will be used develop the company’s cable television and broadband infrastructure and services; and also for acquisition of content and broadcast rights, as well as for general corporate purposes.
“The company sold close to 40 lakh shares (3.5 % stake) to Emerging Markets Management (EMSAF Mauritius) in July at Rs 190 a share,” said Mr Anuj Gandhi, CEO at Den Networks.
Deutsche Equities India and Antique Capital Markets are the book-running lead managers to the issue.
