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Saturday, April 22, 2006

Sun TV to list on April 24

Sun TV will list on the stock exchanges on April 24, 2006. Its BSE ID 532733 and its NSE ID is SUNTV.

The share was issued at Rs 875. The issue was subscribed 47.05 times.

Sun TV, the largest television broadcaster in the country in terms of audience share with a leadership position in the South Indian states of Tamil Nadu and Kerala, had entered the capital market for subscription. Its initial public offer, IPO, was of 68,89,000 equity shares of Rs 10 each through 100% book building route.

The company was to raise funds for capitalization of subsidiaries, launch of new TV channels, construction of corporate office and studio facilities, purchase of new equipment and upgradation of equipment and general corporate purposes.

The book running lead managers were DSP Merrill Lynch and Kotak Mahindra Capital Company and Karvy Computershare was the registrar to the issue.

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