Financial Daily from THE HINDU group of publications
Saturday, Apr 22, 2006
Financial Daily from THE HINDU group of publications Saturday, Apr 22, 2006 |
|
|
|
|
|
|
|
Markets - IPOs Our Bureau
Mumbai , April 21 The shares of Sun TV will be listed on Monday. The issue price for its recently concluded IPO has been fixed at Rs 875. At 68,89,000 equity shares, the size of the fresh equity issue, as mentioned in the red herring prospectus filed in February, works out to Rs 602.78 crore. Sources closely involved in the IPO exercise said the issue was oversubscribed 46.92 times. The retail portion was oversubscribed 2.9 times, that of non-institutional buyers 35.48 times and the portion for qualified institutional buyers, 70.8 times. At this level of over-subscription, the issue would have generated in excess of Rs 28,282 crore. The issue was to constitute 10 per cent of the post-issue paid-up capital of the media company. Sun TV is part of the Sun Network, which runs 14 TV channels, four FM radio stations, two daily newspapers and four magazines. According to the prospectus, the issue proceeds would be used to beef up Sun TV's subsidiaries, launch more TV channels, construct its own corporate office, set up studio facilities and up-linking infrastructure, purchase new equipment and upgrade existing ones. News reports in February had said that the company hoped to raise Rs 700-800 crore through the IPO.
Related Stories: More Stories on : Radio/TV | IPOs
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|