MUMBAI: The road shows for the initial public offer (IPO) that the Prannoy Roy-controlled NDTV is opening on 21 April are set to kick off throughout the country either tomorrow or the day after.
The company has received the go-ahead from the Securities and Exchange Board of India (Sebi) for its domestic IPO, which would remain open for subscription till the 28th. The issue size is approximately Rs 1090 million and the indicative trading price band is Rs 63-70 per share.
| Face Value : | Rs 10/- per share |
| Indicative Price Band : | Rs 63-70 per share |
| Issue Size | Approx Rs 1090 million |
| Issue Opens | 21/4/2004 |
| Issue Closes | 28/4/2004 |
According to draft Red Herring prospectus for the IPO, the company plans to pre-pay loans to the tune of Rs 200 million in the financial year 2005 from the funds to be raised through the IPO.
NDTV is the second news company to go public, the first one being TV Today Ltd, an India Today group company, which visited the market a few months ago.
