News Broadcasting
NDTV issue closes, oversubscribed 36+ times
NEW DELHI: The initial public offer (IPO) of the Prannoy Roy-controlled NDTV was oversubscribed over 36 times at the end of a weeks bidding process today with a total of 450,000 applications.
The retail portion of the IPO, which amounted to 25 per cent of the total shares being offered in the market, was oversubscribed 34 times, the qualified institutional buyers segment was oversubscribed 11 times while the high net worth individuals (HNI) was oversubscribed 109 times..
More than 90 per cent demand was at Rs 70 hich was the upper band followed by 15-16 crore shares at the cut off price
The formal listing of the NDTV share on the National Stock Exchange and Bombay Stock Exchange, which would herald trading in the scrip, is likely to happen between 15 and 19 May. Capital market sources said the listing would definitely happen on or before 19 May as by that time the other formalities would have been completed.
NDTV is the third media company in the last 18 months or so to have gone public after the Anurradha Prasad and Rajiv Shukla-promoted BAG Films and Aroon Purie-promoted TV Today Network, which runs the Aaj Tak and Headlines Today news channels.
The bidding process for the NDTV IPO through the book-building process started on 21 April and the company is seeking to raise Rs 1,090 million via the capital market. The IPO comprises fresh issue of shares as well as an offer for sale. The company, which is reserving Rs 90 million worth of shares for employees, is offering slightly over 25 per cent of the company’s shareholding to the public.
At a recent press conference here in Delhi, NDTV chairman Prannoy Roy said that in a (news) venture like the one run by his company, technology, infrastructure, etc are important, but not as important as the human resources of the company. “People matter more and the rest come after that only,” he had explained.
According to the prospectus, the net proceeds raised from the issue would be deployed towards “working capital requirements, repayment of loans and for general corporate purposes.” Net proceeds from the sale of existing shares (5.9 million shares) will be paid to the selling shareholders.
NDTV’s net worth as of 31 March 2003 and nine months period ended 31 December 2003 was approximately Rs 1.199 billion and Rs 1.285 billion, respectively. For the nine months period ended 31 December 2003, the company posted a net loss of Rs 473.77 million. The book value per share of Rs 4 each, as of 31 March 2003 and nine months period ended 31 December 2003 was approximately Rs 28.52 and Rs 27.16, respectively.
Roy explained that investors should evaluate the channel’s initial public offer on future growth potential like increasing viewership, better utilisation of advertising time, costless foreign growth and future opportunities in outsourcing technology (all of which he’s confident of).
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
