Financial Daily from THE HINDU group of publications
Saturday, Jan 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 17, 2004 |
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Markets
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Stock Markets TV Today listed at Rs 220 Our Bureau
Mumbai , Jan. 16 THE shares of TV Today Network Ltd (TVTN) were listed on Friday at a price of Rs 220 on the Bombay Stock Exchange, more than double the issue price of Rs 95 per share but ended at Rs 181.35. During the session, they touched a low of Rs 179 and an intra-day high of Rs 225. The listing was marked by the customary bell ringing ceremony at the BSE, where Mr Aroon Purie, Chairman and Managing Director, TVTN, Mr Anil Mehra, Director, Mr G. Krishnan, Executive Director & CEO, and Dr Manoj Vaish, Executive Director & CEO, BSE, were present. TVTN has two channels — Aaj Tak and Headlines Today. The company had gone in for an initial public offering (IPO) in which it had offered 1,45,00,000 shares through the book-building route. The issue constituted 25 per cent of the fully diluted post issue paid-up capital of the company. It was oversubscribed 35.38 times based on the valid bids received.
The IPO money will be used for upgrading its existing news channels.
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