GECs
Sun TV files for IPO
MUMBAI: The Chennai-headquartered regional television broadcaster Sun TV Ltd has filed the red herring prospectus with Securities Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The company intends to come out with a fresh equity issue of 68,89,000 equity shares of Rs 10 each for cash, to be made entirely through the book building route.
The issue will constitute 10 per cent of the fully diluted post issue paid-up capital of the company. Following the issue, the shareholding of Sun TV Ltd principal promoter Kalanithi Maran will reduce to 89.99 per cent from 99.99 per cent (61,999,969 shares).
The other shareholders — three individuals Kavery Maran, Mallika Maran, K Shanumugam and three promoter group companies Kal Comm Pvt Ltd, Kumgumam Publications Pvt Ltd and Kal Publications Pvt Ltd — together hold less than 200 shares presently. The stake held in the company by M K Dayalu, wife of M Karunanidhi, was acquired by Maran for a total consideration of Rs 364.8 million at Rs 3,173 per share in October 2005.
The company has mandated Kotak Mahindra Capital Company and DSP Merril Lynch for the issue, which is slated to hit the market sometime towards the end of March or early April 2006.
The prospectus states that the proceeds of the issue will be used to beef up its subsidiaries, launch more television channels and construct its own corporate office. Investments will also be made in setting up studio facilities and up-linking infrastructure, purchasing new equipment and upgrading the existing ones.
As per the prospectus, an investment of Rs 1.14 billion would require carrying out the TV channel launches; the new office and studio facilities would need Rs 623 million and the new equipment/up-gradation would cost Rs 312.6 million.
Regarding the investments planned on its radio initiatives, Sun TV estimates a total expenditure of Rs 1.83 billion towards acquisition of broadcast equipment and setting up of 46 local offices and radio studios.
The company also anticipates a pre-operating expenditure of Rs 50 crore towards obtaining frequency allocation, Standing Advisory Committee on Radio Frequency Allocation (SACFA) clearance, overheads prior to start of commercial operations and launch expenses.
According to the prospectus, Sun TV Ltd recorded a net profit of Rs 779.2 million for FY05 (Rs 772.9 million in FY04) on a total income of Rs 3 billion (Rs 2.7 billion in FY04). For the first half of FY06, the company’s net profit was Rs 625.5 million on a total income of Rs 1.6 billion. The company’s net worth as of 30 September 2005 was Rs 4.7 billion; its outstanding loans were Rs 105 million.
“From fiscal 2001 to fiscal 2005, our total income grew at a compound annual growth rate of 19.5 per cent and our net profit after tax grew at a compound annual growth rate of 17.1 per cent. Our net profit after tax as a percentage of total income has averaged 27.6 per cent over the past five fiscal years,” states the prospectus.
“In November and December 2005, we paid dividends of Rs 1,850 million in the aggregate and in December 2005 we made a bonus issue of Rs 600 million, and our reserves and surplus were accordingly reduced. We believe we are in a stable financial position to take advantage of future opportunities, including acquisitions, to expand our business,” the prospectus adds.
The red herring prospectus says that in Tamil Nadu, the combined audience share of all Sun channels is 60 per cent compared to the 5 per cent of its closest competitor for the year ended 31 March.
Sun TV Ltd has also expressed its intention to convert all its channels pay. “All our Tamil and Malayalam channels are available as FTAs to cable operators throughout India, except KTV, Sun News and Sun Music, which are available as pay channels. We intend to make all our channels pay channels in the near future,” the prospectus states.
Sun TV Ltd is part of the Sun Network, which runs 14 TV channels, four FM Radio stations, two daily newspapers and four magazines. Sun TV Ltd comprises four Tamil channels — Sun TV, Sun Music, KTV and Sun News — and two Malayalam channels — Surya TV and Kiran TV.
Sun TV has also said that it will utilise the mobile telephone and broadband technologies for content distribution. “As part of our growth strategy, we may broaden our media presence through other platforms including broadband, mobile and DTH,” states the document.
The company is presently in the process of launching its DTH services.
GECs
Rose and Shine as &TV Decodes India’s Love Language
Valentine’s campaign turns quiet gestures into grand moments.
MUMBAI: In India, love rarely arrives with violins. More often, it shows up as a cup of tea, a fixed light bulb, or a joke cracked at the right moment. This Valentine’s Day, &TV decided to put that unsaid affection centre stage. With its campaign titled ‘India ka Love Language’, the channel has stepped beyond the screen to spotlight a cultural truth: in Indian households, love is frequently understated, particularly by men. It is expressed not through sweeping declarations but through everyday gestures, silent support and routine acts of care.
To translate that insight into action, &TV rolled out an on-ground activation across Delhi, choosing a single rose as its symbol. But this was no grand, cinematic spectacle. The idea was simple. Hand someone a rose. Pass it on to a person who matters. Let the gesture do the talking.
The activation was designed to feel organic rather than orchestrated, nudging people to acknowledge affection that often goes unspoken. Instead of performative romance, the campaign leaned into familiarity, warmth and the quiet humour that defines many Indian relationships.
At the heart of the initiative sits Bhabiji Ghar Par Hain! 2.0, a show that mirrors this philosophy. Known for its playful banter and everyday dynamics, the sitcom captures relationships where fondness is woven into jokes, misunderstandings and shared routines. The line, “Aapke pyaar ke liye ek anokha tohfa, Sahi pakde hain!”, fits naturally into this world, making the show an extension of the campaign’s emotional pitch.
Zee5, chief channel officer, &TV and business head for Hindi Kaveri Das said the idea was to celebrate the kind of affection that rarely makes headlines but defines real life. She noted that in Indian culture, love is often quiet, especially when it comes from men who may not always articulate it. The initiative, she said, was an attempt to acknowledge that silent affection and bring it into the open.
By taking a television thought into a real-world setting, &TV has turned Valentine’s Day into less about spectacle and more about sincerity. In a season crowded with grand gestures, the channel’s message is disarmingly simple: sometimes, the strongest “I love you” is the one that never needed saying.
