StorySebi seeks clarification on Videocon d2hs Rs 700-crore IPOPTINew Delhi, Tuesday, January 6, 2015 | 15:18 IST HOMESebi seeks clarification on Videocon d2hs Rs 700-crore IPOThe Securities and Exchange Board of India (Sebi) has sought clarifications from the merchant banker of Videocon d2h, the satellite teluhevision arm of Videocon Group, regarding the companys proposed Rs 700 crore initial public offer (IPO).Without disclosing the details of clarifications sought, capital market regulator Sebi has said that clarifications are awaited from Lead Manager for the proposed public offer.According to the latest weekly update to the processing status of draft offer documents filed with Sebi, the market regulator has said clarifications are awaited on the IPO ofVideocon d2h as on January 2, 2015.The status is updated on a weekly basis by the regulatory body and the next update as on January 9, 2015 would be uploaded on Sebis website on next working day.The capital market watchdog said it might issue observations on draft offer document within 30 days from the date of receipt of Videocon d2h, satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them.Sebi had received the draft offer documents on September 30 through its lead manager Axis Capital.The proposed IPO of Videocon d2h estimates to raise Rs 700 crore. The direct-to-home TV services provider is also considering to mop-up Rs 50 crore a pre-IPO placement of its shares to institutional investors. While the company has not disclosed the total number of shares to be sold in IPO, the pre-IPO placement could be of 50 lakh shares.Videocon d2h plans to use the funds for acquisition of set-top boxes, outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes.Other players in the business include Tata Sky, Dish TV, Sun Direct and Airtel Digital TV.This is the satellite television companys second attempt to enter the capital markets. Earlier in December 2012, it had filed draft documents under the name Bharat Business Channel with Sebi to raise Rs 700 crore through an IPO. However, the company did not launch the same due to bad market condition..
Posted on: Wed, 07 Jan 2015 03:00:11 +0000
Trending Topics
Recently Viewed Topics
© 2015