Hindustan Media Ventures IPO : IPO Price Band Fixed

by khalid on 05/07/2010 · 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 company has fixed fixed the price band of its initial public offer (IPO) at Rs 162-175 a share.

The company is entering into primary market with an Initial Public Offer (IPO) of Rs 270 Crore. The IPO is opening on 5th Jul 2010 and the shares will be available for subscription up to 7th Jul 2010. The premium of the issue will be decided through a 100% Book Building Process.

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 offered through the IPO 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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