News Broadcasting
HT Media IPO oversubscribed
NEW DELHI: The initial public offering of HT Media Ltd (HT), which controls Hindustan Times newspaper published from several cities, received an overwhelming response from the market and got fully subscribed today within the first 10 minutes of its opening, market sources said.
Most bids for the offering of up to 7.6 million shares were at the top end of a previously fixed price band of Rs. 445-530, wire agencies reported.
The IPO, which will raise up to Rs 4.03 billion, comprises a fresh issue of 4.64 million shares from HT and 2.36 million sold by Henderson Private Capital (Mauritius), representing a near-five-per cent dilution by the private equity firm, which owns about 15 per cent in the firm.
The entire issue, if a green shoe option of 600,000 shares is also sold, will represent 16.33 per cent of the post-issue capital of the New Delhi-based company, the reports said.
The lead manager to the issue is Kotak Mahindra Capital. The equity shares offered are proposed to list on the Bombay Stock Exchange and the National Stock Exchange.
The KK Birla-controlled HT publishes the Hindustan Times English language daily in New Delhi and some other north Indian cities. Recently, it launched in Mumbai, considered the country’s biggest advertising market. HT derives nearly 79 per cent of its revenues from advertising.
HT Media, which has signed an agreement with Richard Branson-controlled Virgin, proposes to make forays in the private FM radio space along with its foreign partner.
However, some market pundits feel that the IPO is over priced. Financial portal moneycontrol.com quoted Ashok Kumar of Lotus Knowlwealth as saying that HT’s IPO is expensively priced as compared to other offerings from this sector.
Not very many newspaper companies are listed on the stock markets in India.
Still, in the recent past, some media stocks like NDTV, TV Today, BAG Films, Deccan Chronicle, Mid-day Multimedia and Television Eighteen Ltd have received enthusiastic response from the market.
According to Lotus Knowlwealth’s Kumar, “Looking at the valuation on a conventional basis, the IPO is obviously expensive. Deccan Chronicle’s issue, which was also a media issue, of course dipped below the issue price but thereafter it has run up. So typically there is lot of momentum in the print media segment and it is also driven by the increase in FDI, which could be increased even further.”
He further added that HT is the second best print media brand (to go public this year) and overall things are pretty positive in the print media segment, which is where the pricing is coming from, because there is no other rational explanation for the stretched pricing.”
HT Media has admitted proceeds of the IPO will be used to fund acquisition and new editions mainly in Hindi.
As of 31 December, 2004, the company’s total asset were Rs 6.81 billion and for the nine months from 1 April, 2004 to 31 December, 2004, its total revenue was Rs 4.73 billion and net profit after tax was Rs 182.1 million.
News Broadcasting
News18 hosts Tamil Nadu town hall ahead of 2026 polls
MK Stalin headlines ‘Next Big Leap’ event from 10am on 23 February in Chennai with leaders and icons.
MUMBAI: Tamil Nadu’s political pot is simmering and News18’s town hall is stirring it up just in time for the 2026 assembly elections boilover. Set for 23 February from 10am onwards in Chennai, the News18 Network Town Hall gathers heavyweights under the banner ‘The Next Big Leap for Tamil Nadu’ to dissect the state’s political pulse, economic edge, and cultural clout. With the 234-seat assembly contest looming as a fiercely competitive showdown, the event spotlights how Tamil Nadu’s identity-driven politics and engaged voters continue to ripple across national debates.
Chief minister MK Stalin leads the charge with a keynote on the theme, sketching his government’s blueprint for governance, development, and staying power pre-polls. Deputy Chief Minister Udhayanidhi Stalin chimes in on ‘Voices, Vision & Way Forward’, unpacking generational shifts and fresh narratives. From the opposition corner, AIADMK general secretary Edappadi K Palaniswami tackles ‘Baton Change at the Ballot?’, floating alternatives to the status quo.
Economic vibes get a nudge from industries minister TRB Rajaa on ‘Investment Story Intact?’, probing the state’s draw for big bucks. BJP’s K Annamalai dives into ‘People, Trust & Political Ideology’, positioning his party in the Dravidian-dominated turf. IT Minister Palanivel ThiagaRajan explores ‘Code, Capacity & Citizenship’, on tech’s role in citizen-focused services. TVK’s KG Arunraj questions if ‘Winds of Change are Possible’ in this pattern-prone state.
A panel on innovation features IIT Madras director Prof V Kamakoti, M&M’s Velusamy R, and Electronic Industries Association’s Dr Sasikumar Gendham, musing how AI and knowledge hubs are remaking opportunities. Culture gets its due with composer Anirudh Ravichander on ‘Tamil Music for the World’.
CNN-News18, editorial affairs director Rahul Shivshankar noted, “The News18 Network Tamil Nadu Town Hall… reflects our core editorial focus, to capture the political mood of the state and spotlight the ideas that will shape the next phase of governance and growth.”
Network18, CEO of English & business news Smriti Mehra added, “As Tamil Nadu moves closer to a defining electoral moment… we see it as our responsibility to drive informed and meaningful conversations.”
Network18 managing editor for South, Vivek Narayan said, “The News18 Network Townhall in Tamil Nadu is designed as a platform where policy, politics and public interest intersect.”
Backed by associate partners Tata Motors Commercial Vehicles and Reliance Industries, the live event streams on CNN-News18, News18 Tamil, CTV, and Youtube from 10am on 23 February perfect for catching the sparks, even if you’re not knee-deep in Dravidian drama.
