Videocon plans to list DTH arm

Our Bureau Updated - November 20, 2017 at 08:00 PM.

Videocon group company Bharat Business Channel plans to raise Rs 700 crore through initial public offering. The company has filed a draft red-herring prospectus with SEBI for its approval.

The company also plans to make a pre-IPO placement of up to Rs 50 crore by selling one crore shares of Rs 10 each. The shares are proposed to be listed only on the BSE.

The issue price will be determined later by the company, in consultation with lead managers of the issue on the basis of assessment of market demand for the equity shares through the book-building process and on the basis of the following qualitative and quantitative factors for the equity shares, the company said in the draft.

The Aurangabad-based company provides direct-to-home services in India under the brand ‘Videocon d2h’. Videocon d2h is the DTH arm of Videocon group. The company commenced direct-to-home operations in July 2009.

The IPO proceeds will be utilised to acquire set-top boxes, outdoor units, and for general corporate purposes. The company also plans to use a part of the proceeds for repayment or pre-payment of certain debt.

The joint global coordinators to the issue are Enam Securities and UBS Securities India, while book running lead managers are IDBI Capital Market Services, SBI Capital Markets, and YES Bank.

>badrinarayanan.ks@thehindu.co.in

Published on December 17, 2012 16:01