Raj Television Network Limited IPO opens on February 14

MUMBAI: Raj Television Network Limited (the “Company”), a regional broadcaster and media company, is entering the capital markets with an initial public offering (“IPO”) of 35,68,250 equity shares of face value of Rs 10, for cash, at a premium to be decided through a 100 per cent book-building process (the “Issue”). The price band for the Issue has been fixed between Rs 221 and Rs 257 per equity share. The Issue opens on February 14, 2007, and closes for subscription on February 23, 2007. The equity shares of the Company are proposed to be listed on the Bombay Stock Exchange (“BSE”) and the National Stock Exchange (“NSE”).


Of the total 35, 68,250 equity shares, the Employee Reservation Portion is 3, 24,384 equity shares, the Net Offer to the Public is 32,43,866 equity shares. The Issue is being made through a 100% Book Building Process wherein not more than 50% of the Net offer to the public shall be allocated on proportionate basis to Qualified Institutional Buyers (including 5% for Mutual Funds). Further, not less than 15% of the Net offer to the public shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net offer to the public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue price. Upon completion of the Issue, the Promoter / Promoter Group will own 72.50% of the post-Issue equity share capital.


The objects of the Public Issue are to: strengthen production facilities; enhance content and content acquisition; launch a new youth-centric television channel; broadcast existing channels in the international market; produce short-films/ telefilms; acquire and export films in the international market; and, construct new studio premises.


The Company posted a Total Income of Rs 3,195.98 lakh as of the financial year ended March 31, 2006, as compared to Rs 2,964.42 lakh for the financial year ended March 31, 2005. The Total Income was Rs 2,950.18 lakh for the period ended December 31, 2006. The Net Profit (restated) for fiscal 2006 was Rs 381.56 lakh (restated) as compared to Rs 297.75 lakh for fiscal 2005. The Net Profit (restated) for the period ended December 31, 2006, was Rs 986.74 lakh.

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