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Even while pointing out that the climate for an IPO is still "not
good", SET India CEO Kunal Dasgupta maintained, "We have been so
busy with CAS for the last seven or eight months, that we could
not concentrate on the (IPO) issue. Now that things have cleared
(aroound CAS), work will start on it."
According to Dasgupta, before an IPO is done, detailed background
work has to be completed, including building up of business and
the financial performance of the company. "With CAS almost behind
us, there was total confusion; now we can concentrate on our work,"
Dasgupta said.
He informed that before an IPO takes place, SET's Indian entity
would have to merge with the Singapore entity, which is the actual
broadcasting company. This would enable the valuation of the company
to go up. "That (merger) work too, had been held up because of CAS,"
Dasgupta said, explaining that things would be set in motion once
again.
However, he refused to give a time frame for an IPO, stating that
such things cannot be predicted. Last year, while announcing the
launch of a marriage-related show featuring Bollywood actress Madhuri
Dixit -- termed by Dasgupta today as the "biggest flop" - the SET
India CEO had said that active work had started on the IPO and that
it would entail merging of the Singapore and Indian entities.
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