Videocon D2H files draft offer documents for Rs 700 crore IPO: sources

Videocon D2H today filed a draft prospectus with market regulator SEBI for its proposed initial public offering (IPO), looking to raise about Rs 700 crore, two sources with direct knowledge of the matter told NDTV Profit.. “The company is looking to raise Rs 700 crore via the IPO, the first DTH (direct-to-home) company to get listed. The dilution and number of shares on offer will be decided at a later date,” the sources added. . Assuming a minimum of 25 per cent dilution by the promoters for listing purposes, the company is valued at around Rs 2,800 crore -- a tad below the earlier Rs 1,000 crore that the company was looking to raise.. “Nevertheless, this will ensure that the issue gets priced attractively to entice both retail and institutional investors to participate in the digitization growth story,” a banker involved with the issue said.. UBS, I-Sec, Enam, IDBI Caps and SBI Caps are among the bankers involved with the issue.. The surge in demand for digitization has led to DTH companies lining up to raise funds to expand operations in an industry which is growing at more than 100 per cent. Tata Sky, another large player in the business, is looking to raise private equity funds and may raise about Rs 2,000 crore via an IPO if it does not get a good valuation from investors. Dish TV, which controls about a third of the market, has also mandated Goldman Sachs for a $100 million (Rs 544.85 crore) GDR (global depository receipt) issue.

Videocon D2H files draft offer documents for Rs 700 crore IPO: sources

NDTV Profit

NDTV Profit

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