DB Corp., publishers of Dainik Bhaskar and Divya Bhaskar, plans to raise about Rs 385 crore through its initial public offering (IPO). The issue opens on December 11 at a price band of Rs 185 - Rs 212.
The issue that constitutes about 10% of the fully diluted post-issue capital of the company, will close on December 15. About 7% of the issue will be a fresh offering, while the remaining 3% constitutes an offer for sale by Cliffrose Investment Ltd., an affiliate of private equity firm Warburg Pincus.
About Rs 130 crore raised from the IPO will be used for repayment of debt, while the remaining capital will be ued for expanding and strengthening its existing markets, launching publications in new markets and upgrading existing machinery in some centres.
The company publishes seven newspapers, with 48 editions and 128 sub-editions in three languages (Hindi, Gujarati and English) and a combined readership base of 15.5 million (Source: Indian Readership Survey, 2009).
Enam Securities, Citigroup Global Markets and Kotak Mahindra Capital are the book running lead managers to the issue.
.jpg&h=334&w=500&q=100&v=20170226&c=1)
.jpg&h=268&w=401&q=100&v=20170226&c=1)
