News Headline
TV Today to raise Rs 1.5 billion from IPO in Dec
NEW DELHI: The Aroon Purie-controlled TV Today Network Ltd., which manages the affairs of Hindi news channel Aaj Tak and its English sibling, Headlines Today, is looking at raising approximately Rs 1500 million from the market through its initial public offer (IPO).
According to capital market sources, the TV Today Network scrip is likely to make its debut on the stock markets during the third week of December, which is to say, between 15 to 22 December.
A final decision on the date would be taken after obtaining the green signal from the Foreign Investment Promotion Board (FIPB), slated to discuss the change in the TVTN shareholding pattern issue on 5 December, and the Indian market regulator, Securities Exchange Board of India (SEBI).
Besides the promoters, post-IPO, the other investors’ holdings too would undergo a change, which have to be communicated to the FIPB and then to the Registrar of Companies.
GE Capital, which holds 7.5 per cent equity stake in TVTN at present, would see its holding go down to 6.2 per cent after the IPO. Similarly, ICICI’s shareholding would go down to 8.3 per cent from 10 per cent, Ankit International’s to 0.7 per cent from 1.7 per cent and Bharti Systel’s to 4.14 per cent from 10 per cent.
In the run-up to the IPO in the past, TVTN has said that it would use the money raised from the capital market for expansion purposes as also in launching some niche TV channels.
The public issue is of 14,500,000 equity shares comprising fresh issue of 10,000,000 equity shares of Rs 5 each at a price that has not yet been decided yet for cash and offer for sale of 4, 500,000 equity shares of Rs 5 each at a price yet to be announced.
The issue would constitute 25 per cent of the fully diluted post issue paid-up capital of the company and is being made through 100 per cent book building process wherein up to 50 per cent of the issue shall be allocated to institutional buyers on a discretionary basis, 25 per cent would be allocated to non-institutional investors and 25 per cent would be allocated to retail investors.
The book running lead manager to the issue is JM Morgan Stanley Pvt. Ltd.
As part of its business strategy, TVTN in its draft prospectus has said that it is well positioned to expand in the fast growing news broadcasting industry that is well positioned to achieve further growth as a result of increasing penetration, viewer preference to continuously stay informed and the growing number of advertisers in the news broadcasting genre.
The objective to further consolidate the leadership position in the news broadcasting genre would be done through the following business strategies, according to the draft prospectus:
* Increase viewership by upgrading our studios and bureaus, investing in state-of-the-art technology and software, creatively innovate to differentiate ourselves from competition to increase viewer loyalty, launching niche channels and distributing our news channels to Indians abroad;
* Capture an increasing share of advertising revenue potential by introducing innovations and incentives in our annual rate card, focus on offering sponsorships of our programs, offering differentiated programming mix at the weekends and expanding time bands and increasing inventory utilization;
* Significantly increase the inventory utilization on Headlines Today;
* Charge subscription revenue, when appropriate; and
* Managing growth while optimizing cost.
TVTN has also stated in the draft prospectus that the advertisement revenues increased by 112 per cent to Rs 1081.83 million in the financial year 2003 from Rs 510.23 million in the financial year 2002. This increase in revenue was primarily due to increase in advance orders of Rs 122.6 million in the first quarter of the financial year 2002 to Rs 905.1, amongst other factors.
Other revenues increased significantly to Rs 8.92 million in the financial year 2003 from Rs 0.39 million in the financial year 2002. This was primarily on account of increase in interest on deposits, due to surplus cash available with us during the financial year 2003 in comparing to financial year 2002.
However, the production cost in financial year 2003 also increased by approximately 20 per cent to Rs 97.38 million in financial year 2003 from Rs 80.94 million in the financial year 2002. Production cost as a percentage of total revenue decreased to approximately 8.9 per cent in the financial year 2003 from approximately 15.7 per cent in the financial year 2002. The increase in production cost was primarily due to increase in uplinking charges and other production expenses.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
