GECs
UTV IPO oversubscribed 26 times; to be listed around 18 March
MUMBAI: UTV Software Communications Ltd is likely to be listed around or on 18 March, according to book running lead manager of the issue Enam Financial Consultants.
UTV’s initial public offering (IPO) was oversubscribed 26.35 times when it closed on 25 February. The size of the issue was Rs 910 million at the upper end (Rs 130) of the price band and Rs 805 million at the lower end (Rs 115) of the price band.
Merchant banking sources said over 2,80,000 bids were received for the issue with the Qualified Institutional Buyers quota being oversubscribed 18.6 times, the Non-Institutional Buyers quota being oversubscribed 35 times and retail 38.6 times.
The issue comprises fresh equity of 4,500,000 shares of Rs 10 each and offer for sale by CDPQ (a Canadian private equity investor) of 2,499,950 equity shares of Rs 10 each for cash. It consists of 349,950 equity shares reserved for employees on a competitive basis and a net issue to public of 6,650,000 equity shares. The net issue to public would constitute 34.11 per cent of the fully diluted post issue paid-up capital of the Company.
As reported earlier, the IPO is being made through 100 per cent book building process wherein up to 50 per cent of the net issue to public shall be allocated to Qualified Institutional Buyers on a discretionary basis, not less than 25 per cent of the net issue to public would be allocated to Non-Institutional Investors and not less than 25 per cent of the net issue to public, would be allocated to retail individual investors on a proportionate basis. This will be subject to valid bids being received from them at or above the issue price.
The proceeds from the IPO will be used for enhancement of production facility & office infrastructure, investment in the ‘Kids Channel’ (Hungama TV) project, funding of SFX & post-production expansion, investment in movie Production and distribution initiatives and general corporate purposes.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
