News Broadcasting
NDTV IPO oversusbcribed 3 times
NEW DELHI: The Prannoy Roy-controlled NDTV, one of the finest TV production houses and a broadcasting house in the country, today started its journey towards being a public company. On the first day, its initial public offer was oversusbcribed 3.31 times or 331 per cent.
According to information available from the capital market, over 90 per cent of the bids received today were nearing the upper price band.
Shares of the company are getting listed on the Mumbai and National Stock Exchanges in a price band of Rs 63-70 per share of Rs 4 each.
The bidding process for the IPO through the book-building process started today and would end on 28 April. The IPO had been oversubscribed 1.36 times by 10.26 a.m., according to the National Stock Exchange.
NDTV is seeking to raise Rs. 1,090 million through the IPO, which comprises fresh issue 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 venture like this 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).
“We have historically made profits all through and made good dividends. Investors should consider this while taking a decision,” he had said.
The channel has opted for the book-building route for this issue, after which promoters will continue to hold a majority 53 per cent stake. Asked whether the company was planning to launch a business news channel, Roy did not rule it out, saying all the options are open.
However, Roy did indicate that the two NDTV channels are fast catching up with competition in all segments. Taking a dig at former ally Star, Roy had said during the roadshows that Star did not start an English news channel because it would have had to take on NDTV 24×7, which, according to him, is No. 2 news channel in the country, slightly behind market leader Aaj Tak.
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.
