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MUMBAI: Raj Television Network Limited (the “Company”),
a regional broadcaster and media company, is entering the capital
markets with an initial public offering (“IPO”) of 35,68,250
equity shares of face value of Rs 10, for cash, at a premium to
be decided through a 100 per cent book-building process (the “Issue”).
The price band for the Issue has been fixed between Rs 221 and Rs
257 per equity share. The Issue opens on February 14, 2007, and
closes for subscription on February 23, 2007. The equity shares
of the Company are proposed to be listed on the Bombay Stock Exchange
(“BSE”) and the National Stock Exchange (“NSE”).
Of the total 35, 68,250 equity shares, the Employee Reservation
Portion is 3, 24,384 equity shares, the Net Offer to the Public
is 32,43,866 equity shares. The Issue is being made through a 100%
Book Building Process wherein not more than 50% of the Net offer
to the public shall be allocated on proportionate basis to Qualified
Institutional Buyers (including 5% for Mutual Funds). Further, not
less than 15% of the Net offer to the public shall be available
for allocation on a proportionate basis to Non Institutional Bidders
and not less than 35% of the Net offer to the public shall be available
for allocation on a proportionate basis to Retail Bidders, subject
to valid bids being received at or above the Issue price. Upon completion
of the Issue, the Promoter / Promoter Group will own 72.50% of the
post-Issue equity share capital.
The objects of the Public Issue are to: strengthen production facilities;
enhance content and content acquisition; launch a new youth-centric
television channel; broadcast existing channels in the international
market; produce short-films/ telefilms; acquire and export films
in the international market; and, construct new studio premises.
The Company posted a Total Income of Rs 3,195.98 lakh as of the
financial year ended March 31, 2006, as compared to Rs 2,964.42
lakh for the financial year ended March 31, 2005. The Total Income
was Rs 2,950.18 lakh for the period ended December 31, 2006. The
Net Profit (restated) for fiscal 2006 was Rs 381.56 lakh (restated)
as compared to Rs 297.75 lakh for fiscal 2005. The Net Profit (restated)
for the period ended December 31, 2006, was Rs 986.74 lakh.
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