ITV

Category: UTV

  • UTV fixes price band at Rs 115-130 for IPO

    UTV fixes price band at Rs 115-130 for IPO

    MUMBAI: UTV Software Communications has fixed the price band at Rs 115-130 for its initial public offering (IPO) issue of 6,999,950 equity shares of Rs 10 each through a 100 per cent book building process to part finance its expansion plans.

    The size of the IPO will be Rs 910 million at the upper end and Rs 805 million at the lower end of the band. The issue is scheduled to open on 21 February and close on 25 February.

    Enam Financial Consultants is the book running lead manager while IL&FS Investmart is co-book running lead manager to the issue.

    The issue comprises fresh equity of 4,500,000 shares of Rs10 each and offer for sale by CDPQ (a Canadian private equity investor) of 2,499,950 equity shares of Rs10 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.

    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.

    The roadshows will be kicked off from Mumbai on 14 February, followed by Delhi and Ahmedabad.

    UTV has recently partnered with Fox Searchlight on Mira Nairs The Name sake. It has also announced its latest Hindi feature production Rang De Basanti starring Aamir Khan directed by Rakesh Mehra.

    UTV Software Communications Ltds unconsolidated restated total income and profit after tax for the six months period ended 30 September, 2004 was Rs 638.43 million and Rs. 63.68 million respectively.

    The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
     

  • UTV airtime sales to market four dailies in South

    MUMBAI: In a bid consolidate its presence in the South, the UTV airtime sales and syndication team has inked a deal to market two new afternoon dailies on Gemini TV, and one each on Udaya TV and DD-1 (Karnataka).

    Prior to signing a deal with the four new dailies, UTV had already marketed two out of the top three programmes on Sun TV- Annamalai and Kolangal – as well as top rated programmes on Gemini and Sun TV afternoon band.
     

    UTV will be marketing two new afternoon dailies on Gemini TV Choodaalani Undhi produced by Radaan and Sivaji Films’ Seethamma Maa…Yamma. UTV has already marketing two programmes by Radaan- Annamalai on Sun TV and Shivaiah on Gemini TV prior to this. It has also signed up a new programme Kirik Atthe Kindle Sose on Udaya TV and Parampare on DD-1 (Karnataka), says a company release.

    Commenting on the development, UTV COO, allied content and airtime sales and syndication Sandeep Bhargava says, “We are currently in an expansion mode and signing these new programmes helps us tremendously in our efforts to garner a seizable share of the growing airtime sales pie in the South. Our vision is to provide a complete airtime solution to clients who advertise in the South by providing them with a basket of options in all the markets down South”.