© 2010 Rapid TV News
Chris Forrester ©RapidTVNews | 23-11-2009
DEN Networks, one of India's major cable MSO's, has raised Rupees 3.7bn ($80m) in its IPO. It will be listed on the stock exchange Tuesday Nov 24.
DEN floated at Rs 195 a share, although some major investors bought in at Rs205. Two investors in particular stand out, in the shape of Japan's Soft-Bank and India Capital of Hong Kong, both with 2% holdings.
After the issue, the promoter's stake in the company will come down to 53%. Standard Chartered IL & FS Asia Infrastructure Growth Fund and EMSAF Mauritius are the other institutional investors, which will have 10.13% and 2.99%, respectively, in the company after the IPO.
The cash will be used to fund further investment in India's cable TV.
© Rapid TV News 2009
