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At first it was Television 18, Cinevista Communications and Sri Adhikari Brothers. Now its the turn of two more television companies to go in for a listing.
This time round, entering the market are CEE (I) TV and Telephoto Entertainment Ltd.
CEE (I) TV is a company which deals with the production and telecasting of TV serials and movies, production and marketing of audio albums, marketing of audio cassettes, and production and distribution of feature films. CEE is mainly target at the South Indian audience and has a library of 1000 hours of television software and 912 feature films for overseas satellite rights. It also has strategic tie-ups with Kelly Broadcasting Systems in the US and B4U South in US, Canada, Europe and Middle East. The company has planned to offer 26.65 lakh shares of Rs 10 each at a premium of Rs 10 with a total IPO of Rs 53.3 million.
Also joining the action is Chennai-based Telephoto Entertainments Ltd. This television content provider has planned an IPO of 27,50,000 equity shares of Rs 10 each at par, aggregating Rs 27.5 million. The issue will open on 19 June and close on 24 June. Telephoto Entertainments has a library of 500 episodes and is currently showing 25 episodes per week in the Sun network.
However, another television software company, Nimbus Communications which was slated to hit the market in June has now decided to put off its IPO and postpone it to a future date. Instead the company has gone in for a private placement of Rs 12.3 billion.
