Sea TV Network IPO : Opening on 27th Sep 2010

by khalid on 25/09/2010 · 0 comments

Sea TV Network Ltd is an Agra based company engaged in providing services of a Multi System Operator (MSO) to various Local Cable TV operators of Agra and adjoining areas. Sea TV proposes to adopt latest technology IPTV for providing TV channels to its viewers. The company want to raise money from primary market with this IPO to expand its base in Agra and around the region. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 50.20 crores. The IPO is opening on 27th Sep 2010 and the shares will be available for subscription up to 29th Sep 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 90 at the lower level and Rs 100 at the upper level.

The proceeds of this IPO will be used to setting up complete Digital Headend and network for implementation of Conditional Access System (CAS), setting up network for complete IPTV Solution, setting up of own cable distribution network and setting up own 20 branch-offices in the Agra City.

Promoters of the company are Mr. Neeraj Jain, Mr. Akshay Kumar Jain, Mr. Pankaj Jain, Ms. Sonal Jain and Ms. Chhaya Jain

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

Issue Detail:-
Issue Open : 27th Sep 2010 – 29th Sep 2010
Issue Type : 100% Book Building Issue
Issue Size : 5,577,777 Equity Shares of Rs 10 each
Issue Size : Rs. 50.20 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 90 – Rs. 100 Per Equity Share
Market Lot : 65 Shares
Minimum Order Quantity : 65 Shares
Listing At : BSE, NSE

The sole book running lead manager to the issue is Chartered Capital and Investment Limited.

Registrar of the Issue : Link Intime India Private Ltd. Mumbai.

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