News Broadcasting
GBN to dilute close to 15% in IPO, valuation pegged at Rs 6.5-7 billion
MUMBAI: Global Broadcast News Ltd (GBN), which owns and operates English news channel CNN-IBN, will dilute close to 15 per cent in its intial public offering (IPO), pegging the valuation of the company at around Rs 6.5-7 billion.
The company, which plans to raise Rs 1.05 billion in the public float sometime in January, has yet to announce the price band. The proceeds of the issue will be used to meet the company’s growth plans, which include the completion of the acquisition of Hindi channel IBN-7.TV18 Group managing director Raghav Bahl declined to comment on the extent of dilution that the IPO would involve. “We are in the process of finalising that,” he said.
Sources, however, confirm that the company is looking at a dilution in the region of 12-15 per cent through the IPO. Indiantelevision.com had earlier reported that GBN would be raising Rs 1.05 billion.
Bahl is also aggressively eyeing the regional news space. “We realise it is an important growth segment. But we are still examining it. We will be taking a final decision on this quickly,” he said.
The other growth area in the broadcasting business, Bahl said, was in launching niche channels in the news space. There is no decision yet in which companies these channels will be housed.
Growth for TV18 will come from subscription business. Pay revenues in this fiscal will rest at Rs 350 million, Bahl said. “We see the lines of distribution business maturing in the coming years. It will account for a big leap in our revenues. We will also continue to register advertising growth,” he added.
TV18, which got re-listed on Wednesday after restructuring the different businesses, is expected to close this fiscal with a revenue of over Rs 2 billion and a net profit margin of around 35 per cent. The company houses two business channels, CNBC TV18 and CNBC Awaaz, a clutch of internet properties, financial wire service Crisil Marketwire (which was recently acquired) and an e-broking venture with partners which will get launched in 3-6 months. “TV18 is positioned as a full spectrum business news, information and transaction play company,” said Bahl.
On the first day of trading in its new avataar on Wednesday, TV18 opened at Rs 600 and closed at Rs 618.35. This was much higher than the market expectation of a debut listing in the range of Rs 450.
“The market is giving value to the internet properties. Bahl has created a perception where he will be a clear leader in this space,” an analyst at a broking firm said.
Bahl may decide to list these internet properties (including flagship moneycontrol.com, commoditescontrol, ibnlive, compareindia, cricketnext) which are sitting inside TV18 overseas. He will be adding more sites through a string of acquisitions as well as growing them organically. “We are bullish on our internet properties. We are giving it a balance sheet and a capital structure. We will unlock value for the shareholders at the right time as they reach critical size. This can mean revenues or even critical traffic into these portals,” he said.
Interestingly, the TV18 scrip (before the restructuring) saw a surge in quick time by Rs 300 to hover over Rs 900 on the back of the IPO floated by Naukri.com (Info Edge). Bahl has created internet assets that can rake in money as he scales up these verticals.
TV18 shareholders will also enjoy the GBN value which will come to them via the Network18 route. Network18, which has 51 per cent stakes in both TV18 and GBN, is likely to be listed within 2-3 weeks.
TV18 will be raising capital up to Rs 3 billion to fund its various expansion requirements. “We have made some investments in acquisitions and other areas through internal accruals and debt. We have a capital raising programme,” says Bahl.
TV18 had earlier mandated HSBC to raise Rs 1 billion. “We will sit with them again and decide how much and when we need to raise capital,” said Bahl.
Besides being the holding company, Network18 will also house Studio18 and Shop18. “It is positioned as a full play media company. In Studio18, we will have a presence in the movie business across the value chain of distribution, production, acquisition and content syndication. We will roll out our products in the next fiscal. We also have ambitious plans for Shop18,” says Bahl.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
