Videocon D2H arm gets SEBI nod for Rs 700-cr IPO

[IndianMascot]

Bharat Business Channel, direct to home TV arm of Videocon Group, has received the go-ahead from market regulator Sebi for its proposed Rs 700 crore initial public offering.

The company had filed its draft red herring prospectus (DRHP) with Sebi (Securities and Exchange Board of India) in December last year for the proposed public offer.

Sebi issued its final observations on the draft offer documents on March 15, as per the latest update by the market regulator. The regulator's observations are necessary for the companies to launch any public offer.

The regulator had received the draft offer documents on December 14 through its lead manager Enam Securities.

The company's proposed Initial Public Offer (IPO) estimates to raise Rs 700 crore. It is also considering to mop-up Rs 50 crore through a pre-IPO placement of its shares to institutional investors.

The proposed IPO would comprise at least 25 per cent of equity capital, giving a valuation of Rs 2,800 crore to Bharat Business Channel.


Wish to read further, -------->

 

[SUNIEL]

Very good news brother, now we can expect more improvement by d2h

 

[IndianMascot]

Yes, now we can expect some real improvement after they have enough money.

 

[IndianMascot]

SEBI seeks clarifications on Videocon d2h public offer


Indian markets regulator SEBI has sought a clarification from Axis Capital Ltd., the merchant bankers, for Videocon d2h Ltd.'s Rs.700 crore initial public offer (IPO), the regulator said.

In its status report on the processing of draft offer documents, Securities and Exchange Board of India (SEBI) said it sought clarifications from Axis Capital, the lead managers to the Rs.700 crore IPO by the direct-to-home television player Videocon d2h.

The company in its draft prospectus has said the object of the issue is to raise Rs.700 crore towards purchase of set-top-boxes, outdoor units, accessories (Rs.350.83 crore), payment of certain debt (Rs.175 crore) and the balance Rs.174.17 crore for general corporate purposes.


SEBI seeks clarifications on Videocon d2h public offer