Direct-to-home (DTH) service provider Videocon d2h has re-filed (pdf) its Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The starting price or the number of shares being offered is yet to be disclosed, however the company has informed that it is raising up to Rs 700 crore through this offering. Seven banks including Axis Capital, Edelweiss, ICICI Securities, IDBI Capital, UBS, SBI Capital Markets and Yes Bank have been appointed as joint book runners. In the filing, Videocon d2h also notes that it is looking to raise up to Rs 50 crore through a pre-IPO placement of up to 5 million shares (5,000,000 equity shares) with a face value of Rs 10 each. It's worth noting that Videocon d2h had previously filed for an IPO in December 2012 and had also received SEBI approval in March 2013. However, it hadn't gone ahead with the offering due to unfavourable market conditions. Use of Net Proceeds: Of the Rs 700 crore, Videocon d2h intends to use Rs 350.8 crore to buy standard definition and high definition set-top boxes, outdoor units and accessories, and Rs 175 crore to repay certain debt, and the remaining for general corporate purposes like working capital requirements, capex and brand building exercises. Videocon started its DTH operations the country in July 2009 and, as of June 30, 2014, it has 11.21 million gross subscribers with a market share of 16.2% of the gross DTH subscriber base across India. It offers 495 national…
- Here’s what streaming companies revealed in their compliance reports for Oct 2022 December 2, 2022
- FRT-based Digi Yatra project begins in three Indian airports on opt-in basis December 2, 2022
- Spotify CEO calls Apple “Shameless” For Engaging In Anti-Competitive Practices December 2, 2022
- Madhya Pradesh HC Grants State Government 3 Months to Draft and Clear Online Gambling Law: Report December 2, 2022
- Meta’s Nick Clegg Flags Encryption Concerns, Praises India’s Stance On Cross-Border Data Flow December 2, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...