Business Standard

TV Today to offload 25%

Image

Our Corporate Bureau New Delhi
 The filing of the prospectus sets in process the long-awaited listing of the news channel company. The lead book runner for the issue is JM Morgan Stanley, while Kotak Mahindra Capital Company and ICICI Securities are the co-book runners.

 According to the the draft document filed with the regulator, the company will issue 14.5 million shares to the public through a 100 per cent book-building process.

 Out of these, 10 million shares of Rs 5 each will comprise fresh equity shares, while the balance 4.5 million shares of Rs 5 each would be offered through the sale of existing shares in the company.

 According to the draft prospectus, up to 50 per cent of the issue will be allocated to qualified institutional buyers on a discretionary basis, 25 per cent to non-institutional investors and the rest to retail investors on a proportionate basis.

 The company will list its shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). For the financial year-ended March 2003, the company

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 29 2003 | 12:00 AM IST

Explore News