New Delhi, Dec 10 : Media house DB Corp, whichpublishes Hindi daily Dainik Bhaskar, today said it has got commitment of Rs 69.36 crore from nine anchor investors underits initial public offering that opens tomorrow.
The company has finalised allocation of 32.71 lakh sharesto anchor investors at a price of Rs 212 per share, upper bandof the IPO, DB Corp Ltd informed stock exchanges.
Nine anchor investors include — FID Funds (Mauritius) Ltd,FIL Trustee Company, Nomura Funds Ireland--India Equity Funds,ICICI Prudential Life Insurance Company, IDFC Classic EquityFund, Government of Singapore, Reliance Capital Trustee, IndiaCapital Fund and BNP Paribas Arbitrage.
The firm, which publishes newspapers in three languages —Hindi, Gujarati and English — is entering the capital marketwith the issue size of 1.81 crore equity shares in the priceband of Rs 185-212 a piece.
At the upper band of price range, the company expects togarner about Rs 385.31 crore. The IPO closes on December 15.
The issue will constitute about 10 per cent of the fullydiluted post-issue capital of the company.
The proceeds would be utilised for expanding the company'spresence in new markets and repayment of debts.
DB Corp, which has presence in 11 states, plans to expandinto new markets in the next two years and would focus on small cities and towns.
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