Hindustan Media Ventures IPO : Finally subscribed 5.43 times

by khalid on 09/07/2010 · 0 comments

HT Media is the publisher of English daily The Hindustan Times and Mint. In addition to Hindustan Times, HT Media also publishes a national business newspaper Mint. The IPO of HT Media Ventures has received a good response from the investors with the final over-subscription figure nearing to about 5.43 times on an overall basis. The IPO has managed to garner a magnificent response from Qualified Institutional Buyers Category where bids are received for 7,181,737 Equity Shares , thus making it overbid by 8.98 times on the final day.

The category-wise subscription status of HT Media Ventures on closing day is given below:-

QIB : 8.98 Times
Non-Institutional Investors : 3.39 Times
Retail Investors : 1.00 Times
Overall : 5.43 Times

The proceeds of the IPO will be used for expansion plans , to meet additional working capital requirements and and to meet Issue expenses.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Shares of HT Media is already listed in BSE and NSE. Hindustan Media Ventures is promoted by HT Media Ltd, publisher of leading English dailies — Hindustan Times and Mint.

The book running lead managers to the issue are Edelweiss Capital and Kotak Mahindra Capital Company.

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