Deccan Chronicle IPO oversubscribed 1.82 times on Day 1

MUMBAI: The initial public offer (IPO) of Deccan Chronicle Holdings Limited, publishers of the English broadsheet newspaper Deccan Chronicle, opened today to a positive response from the capital markets. The 8.01 million shares on offer were oversubscribed more than 1.82 times by the end of the first day.

The public issue offer for ownership of India's first listed broadsheet newspaper is slated to close on 2 December. The final share allocation and pricing will be determined through the book-building route, the company has determined the price band as being between Rs 162 and Rs 194. At this price, the IPO is expected to yield between Rs 1.3 billion and Rs 1.55 billion.

Deccan Chronicle Holdings Limited has appointed ICICI Securities Limited as the lead managers to the issue. The issue constitutes approximately 20 per cent of the fully diluted post offer paid-up capital assuming that the green shoe option is not exercised, and approximately 22 per cent assuming that the green shoe option is exercised in full.

Deccan Chronicle is the largest circulated and read English newspaper in Andhra Pradesh. The capital raised by the IPO will be used for financing new printing facilities, and for venturing into new territories and future strategic initiatives & acquisitions. The company has announced that it will be launching Deccan Chronicle in Tamil Nadu shortly.

Latest Reads
Know your karma on IBN7 with 'Karm Path'

In an attempt to give its viewers a refreshing start of the day, IBN7 is launching a new show titled Karm Path. Starting 27 October, the show will predict what the day holds. The show is a differentiator in its own genre as it connotes the supremacy of deeds over destiny.

Television TV Channels News Broadcasting
Big Ganga available on Tata Sky now

Big Ganga has strengthened its distribution with DTH service provider Tata Sky.

Television TV Channels Regional
TV is story-teller's new novel; audience is Bharat, not India: Star's Banerjee

MUMBAI: Since five to six years, television has become the talking point. Th series such as 'Breaking Bad' to Transparent to Narcos to 'Game of Thrones' to 24, and now POW (Prisoners of Wars) has changed the experience of television viewing.

Television TV Channels GECs
Star World to air 1-5 of 'Homeland'

Star World and Star World HD is all geared up to air the pulse-pounding action series 'Homeland.' The show tackles geopolitical moral conundrums of our current world. It has recently unveiled the teaser for the upcoming season 6 shows how Carrie Mathison will circumvent around another international...

Television TV Channels English Entertainment
Share all World Cup, T-20 feeds with Prasar Bharati, rights holder told

The telecast of all official one-day and Twenty-20 matches played by the Indian Men’s Cricket Team will henceforth have to be shared by the rights holder with the public broadcaster Prasar Bharati under the Sports Broadcasting Signals (Mandatory Sharing with Prasar Bharati) Act 2007.

Television TV Channels Terrestrial
Saregama returns to film music acquisition with Pen pact

Saregama India has inked a two-movie deal with Pen Movies. With this agreement, Saregama has acquired the music rights of upcoming Bollywood releases of Pen which includes Kahaani 2 -- Durga Rani Singh, featuring Vidya Balan and Arjun Rampal.Kahaani 2 is slated for a release on 2 December.

Television TV Channels Music and Youth
Q2-17: Zeel numbers, PAT up on higher Ad and Subscription revenue

The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (Zeel) reported a 23 per cent hike in consolidated revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding quarter of the previous year.

Television TV Channels GECs
Best Deal TV appoints Hari Trivedi as COO

MUMBAI: Best Deal TV has appointed Hari Trivedi as the chief operating officer with immediate effect. Based in Mumbai, Trivedi will be responsible for overall sales and marketing. He would also be initializing lowest price offers and deals on Best Deal TV.

Television TV Channels People
Disney announces successor of MD Siddharth Roy-Kapur

MUMBAI: Walt Disney International has announced the successor to its former managing director Siddharth Roy-Kapur. As a second stint with the organization, Mahesh Samat has made a comeback and will lead The Walt Disney Company India as the managing director. He will pursue his new responsibility...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories