The Hindu Business Line : Deccan Chronicle fixes IPO price band at Rs 162-194

DECCAN Chronicle Holdings Ltd, the publishers of newspaper Deccan Chronicle, has priced its initial public offerings at a price band of Rs 162-194. The red herring prospectus has been filed with the Registrar of Companies, Andhra Pradesh on November 8.

The IPO will open on November 25 and close on December 2.

At this price, the IPO is expected to yield between Rs 130 crore and Rs 155 crore to the company, said a press release.

ICICI Securities Ltd has been appointed the book running lead managers to the issue.

In order to operate a post-issue price stabilisation, the issue will have a Green Shoe option of 12,01,960 equity shares and ICICI Securities Ltd has been appointed as the stabilisation agent for this.

The issue will constitute approximately 20 per cent of the fully diluted post offer paid-up capital assuming that the green shoe option is not exercised, and approximately 22 per cent assuming that the green shoe option is exercised in full.

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Deccan Chronicle fixes IPO price band at Rs 162-194