Karnataka based Manipal Group, which is worth Rs 20 billion, is planning a major expansion drive and is looking at an IPO worth Rs 3 billion to fund its expansion activities. The company is expected to come out with the IPO by June this year.

Half of the amount raised by IPO will go towards funding its media ventures while rest will be for housing and infotech.

The group plans to launch a 24-hour Kannada entertainment channel in the next six months. The channel will be called 'Tarang TV'. An educational channel and a regional news channel are also in the offing in a year's time. Tarang TV will have 12 hours of original programming. The channel is also looking at foreign partners to provide content for the kid's slot which will be aired on it. The channel will be beamed off AsiaSat-3. An animation studio will also be set up in Banglore.

Apart from this the Manipal Group is also looking at introducing new women's magazine. The magazine is expected to be launched within 3 months time.

Manipal Group will also be making its foray into the Internet with a women's portal called shesindia.com. The site, which will be launched in 45 days, will generate revenues from advertising, sponsorships and ecommerce.