Lokmat Media IPO : Files DRHP with SEBI

by khalid on 14/01/2011 · 0 comments

Mumbai based Lokmat Media Limited has informed the share market (BSE/NSE) that they have planning to enter capital markets with its initial public offering (IPO) of 13,829,064 equity shares of Rs 10 each for cash constituting Rs 368.6 crore. The company has filed a Draft Red Herring Prospectus (DRHP) on 5th January 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. Promoters, Vijay Darda and Rajendra Darda hold 54.75% stake in company and other family members hold 45.25% stake, which will be reduced to 41.07% and 33.93% post issue.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The proceeds of the proposed IPO would be used for capital expenditure for upgrading existing printing facilities, building capability for expansion to new markets, brand building, promotion and marketing, pre-payment and repayment of loans, acquiring and co-producing Indian films, including primarily Marathi language films as well as certain Hindi language films, investment in IBNL and general corporate purpose.

Book running leading managers to the issue are Kotak Mahindra Capital, Enam Securities (P) and Link Intime (India).

Stay tuned to BelltheBull Blog for more news on Lokmat Media Limited IPO !

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