Den Networks Ltd. IPO : To raise Rs 285 cr

by khalid on 12/10/2009 · 0 comments

DEN

Den Networks Ltd.is planning to raise Rs 285 crore, by issuing two crore shares. Company has already completed Rs.100 crore pre placement exercise.

Den Networks Ltd. is cable distribution company. Cable companies are now tapping the capital markets. While Hinduja Ventures already has its cable company InCableNet listed, Den Networks Ltd. and Hathway Cable are taking the IPO route and Essel Group’s WWIL is raising funds through a rights issue.

The proceeds of this IPO will be mainly invested to improve infrastructure of the company and around 14% of the fund will be used to repay loans.

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