Breaking News Videocon D2H files Rs. 700 crore IPO

[IndianMascot]

Videocon D2H today filed a draft prospectus with market regulator SEBI for its proposed initial public offering (IPO), looking to raise about Rs. 700 crore.

“The company is looking to raise Rs. 700 crore via the IPO, the first DTH (direct-to-home) company to get listed. The dilution and number of shares on offer will be decided at a later date,” the sources added.

Assuming a minimum of 25 per cent dilution by the promoters for listing purposes, the company is valued at around Rs. 2,800 crore -- a tad below the earlier Rs. 1,000 crore that the company was looking to raise.

“Nevertheless, this will ensure that the issue gets priced attractively to entice both retail and institutional investors to participate in the digitization growth story,” a banker involved with the issue said.

UBS, I-Sec, Enam, IDBI Caps and SBI Caps are among the bankers involved with the issue.

 

[sunnysep1]

WOW an active IPO to subscribe with an attractive valuation.... it's raining IPO in Dalal Street..... it will give run for money to other DTH Providers.

 

[IndianMascot]

Videocon D2H's satellite arm 'Bharat Business Channel' approaches Sebi for Rs 700 crore IPO


Bharat Business Channel, satellite TV arm of Videcon Group, has filed its papers with market regulator Sebi to raise Rs 700 crore through an initial public offer (IPO).

The company is also considering to raise Rs 50 crore through a Pre-IPO placement of its shares to institutional investors, it said in its draft prospectus made public by Sebi today.

The issue would comprise atleast 25 per cent of equity capital giving a valuation of Rs 2,800 crore to Bharat Business Channel, which provides direct-to-home TV services under Videcon D2H brand.

While the company has not disclosed the total number of shares to be sold in IPO, the Pre-IPO placement could be of one crore shares.

"Our Company is considering a Pre-IPO placement of up to one crore equity shares aggregating up to Rs 500 million with certain investors...If the Pre-IPO placement is completed, the Issue size will be reduced to the extent of such Pre-IPO placement, subject to the issue size constituting at least 25 per cent of the post-issue paid-up equity share capital of our company," the filing showed.

The company is planning to use the funds for "acquisition of set-top boxes, outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes."

IDBI Capital Market Services Ltd, SBI Capital Markets Ltd, Yes Bank, Enam Securities and UBS Securities India would act as a book running lead managers to the issue.

 

[whitebunny]

I think DishTv is too listed Im Bhai. I think they are the first DTH company to be listed on BSE. kindly correct me if Im wrong

 

[IndianMascot]

Yes bro, you are right. Even I am surprised to see that statement.

Dish TV is the 1st DTH Company to be listed on BSE. Even Airtel Digital TV is listed but not individually and as a Group company " Bharti Airtel Limited.

Now Tata Sky and d2h both have announced for IPO, but Videocon d2h become the 1st DTH operator to file an IPO. So, they need to highlight this part.

 

[IndianMascot]

Venugopal Dhoot talks about Videocon D2H IPO & Digitization Phase II





Videocon's Venugopal Dhoot talks about the business prospects of the D2H arm on the sidelines of filing the prospectus for its IPO. According to him, the business has significant scalability potential and strong growth prospects.