Television

Tanu Healthcare to tap capital market for health channel project

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MUMBAI: Tanu Healthcare, a publicly listed company based in Mumbai proposing to launch a free-to-air health channel, will tap the capital markets for raising funds.

While speaking to indiantelevision.com, Tanu Healthcare chairman GK Agarwal says that the company will tap the market to fund the Rs 150 million broadcast venture - niche channel Care TV.

"We shall generate Rs 50 million from internal resources and hope to get the balance amount from the capital markets. We are looking at an issue sometime towards the end of the year," Agarwal adds while claiming that the earlier issue in 1994 was oversubscribed 10 times. The company has around 5,000 shareholders.

Initially, the company was involved in trading of analytical testing laboratory equipment, metals, chemicals and petrochemicals. It soon entered the pharma business. For the quarter ended 30 June 2003, the company had total sales of Rs 77.03 million; and a net profit of Rs 12.75 million; an EPS of 0.87 on an equity capital of Rs 146.52 million. The B2 group scrip opened today on the Bombay Stock Exchange (BSE) at Rs 11.53; gained 9.97 per cent to end the day at Rs 12.25. The volume traded was 110,830 shares.

Tanu Healthcare has already informed the BSE that the company plans to enter into health channel broadcasting in India. The channel will launch during Diwali and is located on Thaicom, frequency 3,545 Mhz vertical.

Tanu Healthcare MD in charge of Care TV Ajit Gupta says that the first-of-its-kind channel will cover various facets of the human body, mind, beauty and soul contents. "The channel will address the needs of ordinary people and will provide them information that they seek. The channel revenues will revolve around regular ads from OTC products, co-branding sponsorships, social awareness advertising and what I call informational commercial," Gupta adds.

Agarwal expects break even in the first year of operations. "Care TV is a pioneering effort and we have tested marketed the concept with several advertisers including pharma, insurance and health-care companies. Most of them seem to be keen to advertise on the channel. We should break even in anything between 9-12 months."

The company has already entered into an arrangement with TV production house Meteor Films (producing Mulk on Zee) to lease out an 8,000 sq feet studio in Mumbai. It has commissioned directors such as BR Ishaara, Jatin Kumar Agarrwal amongst others to create niche content.

At a meeting held on 31 July 2003, the board of directors of Tanu Healthcare have approved the following:

* Proposal for public issue for part financing of television channel business, subject to approval of shareholders.

* Increase in the authorised capital up to Rs 400 million from existing Rs 150 million.

* Proposal for delisting of securities from the Ahmedabad and Hyderabad Stock Exchange.

Agarwal says that the decision to delist has been taken because the scrip isn't actively trading in the other stock exchanges.

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