Videocon d2h Ltd, the satellite television arm of the Videocon Group, has filed fresh papers with the Securities and Exchange Board of India (Sebi) to mop Rs 700 crore through an initial public offering (IPO).
Videocon d2h had received approval in March 2013, carrying a validity of one year, according to the Sebi's Issue of Capital and Disclosure Requirements Regulations.
However, the company did not launch due to bad market conditions.
While the company has not disclosed the total number of shares to be sold in the IPO, the pre-IPO placement could be of five million shares.
"The pre-IPO placement is at the discretion of our company... If completed, the issue size will be reduced to the extent of such pre-IPO placement, subject to the issue size constituting at least 10 per cent of the post-issue paid-up equity share capital," the company said.
The company plans to use the funds for "acquisition of set-top boxes, outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes."
Others in the business include Tata Sky, Dish TV, Sun Direct and Airtel Digital TV. IDBI Capital Market Services, SBI Capital Markets, YES Bank, Enam Securities and UBS Securities India would act as book-running lead managers. The shares are proposed to be listed on the BSE. In July, the satellite TV arm of the diversified Videocon Group formally announced the change of its name from Bharat Business Channel to Videocon d2h.
Videocon d2h had received approval in March 2013, carrying a validity of one year, according to the Sebi's Issue of Capital and Disclosure Requirements Regulations.
However, the company did not launch due to bad market conditions.
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"IPO of equity shares of face value of Rs 10 each of Videocon d2h Ltd... aggregating up to Rs 7,000 million," the company said in its draft prospectus, made public by Sebi on Wednesday. The company is also considering whether to raise Rs 50 crore through a pre-IPO placement of shares to institutional investors.
While the company has not disclosed the total number of shares to be sold in the IPO, the pre-IPO placement could be of five million shares.
"The pre-IPO placement is at the discretion of our company... If completed, the issue size will be reduced to the extent of such pre-IPO placement, subject to the issue size constituting at least 10 per cent of the post-issue paid-up equity share capital," the company said.
The company plans to use the funds for "acquisition of set-top boxes, outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes."
Others in the business include Tata Sky, Dish TV, Sun Direct and Airtel Digital TV. IDBI Capital Market Services, SBI Capital Markets, YES Bank, Enam Securities and UBS Securities India would act as book-running lead managers. The shares are proposed to be listed on the BSE. In July, the satellite TV arm of the diversified Videocon Group formally announced the change of its name from Bharat Business Channel to Videocon d2h.