Hindustan Media fixes IPO price band at Rs 162-175

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Hindustan Media fixes IPO price band at Rs 162-175

This article was posted on Jul 4, 2010 and is filed under Press Releases

New Delhi: Hindustan Media Ventures Ltd, publisher of Hindi daily Hindustan, has fixed the price band of its initial public offer (IPO) at Rs 162-175 a share.

The IPO, through which the media house plans to raise up to Rs 270 crore, will open on July 5 and close on July 7.

The company intends to utilise the IPO proceeds for its expansion plans. The IPO is based on 100 per cent book building process.

Shares offered through the IPO are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

Edelweiss Capital and Kotak Mahindra Capital Company are the book running lead managers to the issue.

Shares of HT Media were quoting at Rs 152.50, up 2.38 per cent, at 11.30 a.m. on BSE.

Hindustan Media Ventures is promoted by HT Media Ltd, publisher of leading English dailies — Hindustan Times and Mint.

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