Nimbus : Planning an IPO soon

by khalid on 11/07/2010 · 0 comments

Mumbai based Nimbus Communications is one of India’s leading media and entertainment businesses focused on TV, advertising and sports rights management. Nimbus Communications has plans to launch an IPO of Rs.750 crore soon and the the proceeds would be used for the expansion plans in North America and Asia and the launch of new channels.

The companies financial investors 3i and Oman and Cisco owning almost 60 per cent of the share holding and will sell one fifth of their stake individually and around 12 per cent collectively.

Nimbus plans to file its draft red herring prospectus (DRHP) by the end of July or August. After the issue, it will be the first media house, with its specialization under the sports category to get listed in the stock exchange in September or October 2010.

Nimbus has four divisions:-

1. Television, it currently airs 15 TV series a week and has had seven number one and 15 top ten rated TV shows since it was established.

2. Nimbus Sport International, India’s only global sports marketing and production company. It manages the rights of ICC cricket events, and recently acquired the next four-year block of Indian cricket from BCCI for $612m.

3. Nimbus Mobile, India’s leading mobile content services provider creating and delivering innovative content.

4. Nimbus Motion Pictures, already produced three movies, including the award-winning Ek Hoti Vaadi. It is developing a number of Hindi films and is also working on two English films.

Source : BelltheBull

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