|
New
initial public offerings
Raj TV
Chennai: Raj Television Network has filed a draft
red herring prospectus with the Securities and Exchange
Board of India to issue 35,68,250 shares of Rs10 each
at a price to be determined through a book-building process.
The issue includes a fresh issue of 22, 70,700 shares
and an offer for sale of 12, 97,550 shares by the existing
shareholders.
The
issue is to fund a new television channel, extend broadcasting
to international markets, enhance content and content
acquisition, produce short films and telefilms, acquire
and export films in international markets, construct a
new studio and strengthen existing facilities, a press
release said.
The
net issue to the public consists of up to 32,43,866 shares
and a reservation of up to 3,24,384 shares for eligible
employees of the company. The issue constitutes 27.50
per cent of the fully diluted post-issue paid-up capital
of the company.
Kanakia
Group
Mumbai: Kanakia Group, which is the promoter of
theatre exhibition chain Cinemax India, is floating a
public issue of 70 lakh equity shares to raise about Rs150
crore.
The
entire proceeds of the IPO will go to increase our screens
from 33 to 96 and acquiring properties pan India. Our
strategy will be to focus on acquiring or leasing multiplexes
in malls. The promoters are looking to sell about 32 per
cent stake in the company.
Cinemax
is scaling up its presence in two tier cities such as
Panipat, Guwahati, Surat, Nagpur and Faridabad. Southern
cities such as Chennai, Bangalore, Hyderabad and Kochi
would form the second phase.
Ruchira
Papers
New Delhi: SEBI had approved the plans of Ruchira
Papers, a Himachal Pradesh-based kraft paper manufacturer,
to raise Rs28.5 crore through the Initial Public Offering
(IPO), being made through the 100 per cent book building
process. The funds would be utilised towards setting up
a manufacturing unit at Kala-Amb in Himachal Pradesh.
Out
of the total cost of Rs135.5-crore for the manufacturing
unit, Rs93.48 crore is being funded by a consortium of
bankers, Rs9 crore by the promoters, Rs12 crore through
internal accruals, and the rest will be raised through
the IPO.
Ruchira
Papers makes kraft paper, with a market value of about
Rs100 crore. It has a current capacity of 52,800 tonnes
per annum, and with the new facility it would increase
to 85,800 tonnes per annum. The company had a turnover
of Rs62.61 crore in 2005-06 and reported a net profit
of Rs3.02 crore for the first half of 2006-07 with a turnover
of Rs37.76 crore.
Punjab
National Bank and A K Capital Services Ltd are the book
running lead managers for the issue.
Back
to News Review index page
|
