Jagran Prakashan sets IPO price band at Rs 270 - Rs 324

MUMBAI: Jagran Prakashan Limited (JPL) has fixed the price band of its public issue at Rs 270 to Rs 324 per share, putting the valuation of the company at around Rs 13.5-16.2 billion.

JPL, which is the publisher of the country's largest ciruclated daily Dainik Jagran, will have an initial public offering of 11,544,873 shares of Rs 10 each. This will comprise a fresh issue of 10,039,020 shares and a Green Shoe option of up to 1,505,853 shares at a premium to be determined through a 100 per cent book building process.

The issue will open for subscription on 25 January and close on 31 January.

The promoters of JPL also run a TV business through a separate company. Channel7, a Hindi news channel, started operations early last year.

JPL will use a portion of the proceeds for acquisition and joint ventures, the company's CMD Mahendra Mohan Gupta said in a press conference today.

JPL proposes to invest approximately Rs 800 million in various strategic acquisitions/investments in print and other media. The company also intends to employ approximately Rs 400 million towards the expansion of its outdoor media business.

Among the other plans include the launching of a new Hindi newspaper brand in some of its existing markets. In order to avoid cannibalizing Hindi newspaper Danik Jagran?s market share, the new brand product will be aimed at being different from the current one, by positioning and a lower cover price. The second paper would tap the advertising potential of those who cannot afford the rates quoted by Dainik Jagran, Gupta said.

Last year, Independent News & Media PLC had picked up a 26 per cent equity stake in JPL for 28 million euros ($33.79 million) in June 2005. After the IPO, the holding of Independent News & Media will dilute to around 20.80 per cent. The promoters of JPL will hold around 51 per cent.

DSP Merrill Lynch and ICICI Securities are the managers of the issue.

Latest Reads
Discovery strikes agreement with European Tour to expand GOLFTV portfolio and establish the ‘digital home of golf

Discovery and the European Tour have announced a new partnership that will see GOLFTV continue to expand its portfolio and move towards becoming the established ‘digital home of golf’ for fans around the world.

Television TV Channels Factual @ Discovery

CNN and Cartoon Network won eight honours – also known as “Goddess of Creativity” wins – at the Asian Academy Creative Awards on December 6, the region's version of the International Emmy Awards.

Television TV Channels Kids
Uncover the enthralling journey of the most notorious drug lord on HISTORY TV18 HD’s ‘The Rise & Fall of Pablo Escobar’

Pablo Escobar’s belief that “Life is full of surprises, some good, some not so good.” forms the basis for a thrillingbiography of the world’s most infamous drug lord.

Television TV Channels Factual @ Discovery
Mumbai, Gear Up For DreamHack - The World’s Largest Gaming Festival

Starting 21st December, get ready to experience the world’s largest gaming festival – DreamHack, right here in Mumbai

Television TV Channels News Broadcasting
DISCOVERY channel to premiere ‘Extreme Jobs with Tim Kennedy’ from 17th December

Discovery Channel to premiere no holds barred series EXTREME JOBS WITH TIM KENNEDY hosted by Special Forces Sniper and fearless Green Beret, Tim Kennedy.

Television TV Channels English Entertainment
EPIC To End The Year On A Special Note

India’s leading Hindi infotainment channel continues to strengthen its position in the infotainment genre through innovative and engaging programming. EPIC Channel is bringing two new special shows – a war documentary ‘Sentinels of the Snow’ by Maj. Gen. G.D. Bakshi and a glimpse into the lives of...

Television TV Channels Factual @ Discovery
TV still has headroom for monetising from underpenetrated areas

With the advent of OTT platforms, technological disruptions and change in content consumption trends, traditional linear TV has been facing a difficult time. Moreover, demonetisation and inclusion of GST also came as additional challenges in the recent past, with effects that lingered for long,...

Television TV Channels GECs
Times Network sets India’s $5 Trillion growth agenda through the 5thedition of ‘India Economic Conclave 2018’: Day 1

Times Network, a part of India’s largest media conglomerate, The Times Group, commenced its signature event, India Economic Conclave 2018 in its 5th edition in Mumbai today.

Television TV Channels News Broadcasting
Zee TV VP marketing Azmat Jagmag quits

Zee TV’s VP for marketing, Azmat Jagmag, who was responsible for brand building, team growth, sales strategy and revenue facilitation, has quit the organisation last month.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories