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Tag: DRHP

  • Pine Labs appoints Sameer Kamath as CFO ahead of IPO; Shalini Saxena returns as General Counsel

    Pine Labs appoints Sameer Kamath as CFO ahead of IPO; Shalini Saxena returns as General Counsel

    Mumbai: IPO-bound Pine Labs has announced two key leadership appointments ahead of its planned public offering: Sameer Kamath is set to join as chief financial officer, while Shalini Saxena returns
    as general counsel. The announcement follows closely on the heels of the company’s draft red herring prospectus (DRHP) filing with the Securities and Exchange Board of India (SEBI) on 27 June.

    Kamath, currently group CFO at Avendus Capital, brings over two decades of financial leadership experience. He previously served as CFO at Motilal Oswal. He replaces Marc Mathenz, who stepped down in June shortly before the DRHP was filed.

    Saxena re-joins Pine Labs after her tenure as legal head at CoinDCX. She had earlier served as general counsel at Pine Labs from 2019 to 2022. Her return signals renewed legal leadership focus as the company navigates regulatory and compliance processes tied to its public listing.

    Pine Labs’ senior leadership team now includes:

    Amrish Rau, chief executive officer

    Kush Mehra, chief business officer

    Sumit Chopra, chief operating officer

    Navin Chandani, chief business officer – issuing business

    The Gurugram-based fintech firm is looking to raise Rs 2,600 crore via a combination of fresh equity issue and an offer-for-sale (OFS) of up to 147.8 million shares. Pine Labs is reportedly seeking a valuation in the range of $4.5–5 billion. Key shareholders include Peak XV Partners, Mastercard, PayPal, and Actis.

    The appointments place Pine Labs alongside a growing cohort of Indian startups accelerating towards public markets-a signal of rising maturity within the country’s fintech and technology sectors.

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  • GTPL Hathway gets SEBI nod for Rs 600-cr June IPO, to repay loans, expand cable & b’band with new tech

    MUMBAI: GTPL Hathway, a part of Hathway Cable and Datacom which offers cable TV and broadband services, is preparing to raise around Rs 600 crore through an initial public offer (IPO) in June.

    Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purpose, PTI reported.

    A company statement stated that they had received capital markets’ regulator SEBI approval to float the IPO.

    According to the Draft Red Herring Prospectus (DRHP), the company’s public issue comprises fresh issuance of equity shares worth Rs 300 crore and offer for sale of 1.8 crore scrips by the existing shareholders.

    BNP Paribas, JM Financial Institutional Securities, Motilal Oswal Investment Advisors Pvt Ltd and Yes Securities will manage the public issue.

    By 30 September last year, GTPL Hathway’s digital cable TV services reached 169 towns across India, including towns in Gujarat, Maharashtra, Bihar, West Bengal, Assam, Jharkhand, Madhya Pradesh, Telangana, Rajasthan and Andhra Pradesh.

    With around 5.41 million active digital cable subscribers, the company is now preparing to expand both its cable TV and broadband services with newer technology.

    The company is gradually phasing out analogue services so as to comply with the government’s policy on digitisation, which will provide it an opportunity to expand products with broadband services and additional high definition channels.

  • Music Broadcast plans IPO; to make buys

    Music Broadcast plans IPO; to make buys

    MUMBAI: Music Broadcast Private Limited, which operates one of the leading FM radio stations — Radio City — is planning to list. It is preparing to bring out a public offer of over Rs 500 crore comprising a fresh issue of Rs 400 crore and an offer for sale of 26.59 lakh equity shares by the promoters’ family.

    The proceeds from the issue will be utilised to retire debt of around Rs 150 crore, and the remainder to create a “war chest” for future acquisitions.

    Radio City 91.1 FM brand has been synonymous with the category since inception in 2001. Innovative programming and marketing initiatives have helped Radio City pioneer FM in India. In phase III auction, the network expanded its footprint by efficiently adding 11 new markets after carefully selecting towns with greater SEC AB population. With the addition of the new towns and addition of Radio Mantra towns, Radio City reaches to 39 most important towns of India dominating the most important advertiser markets. The first FM station will be launching internet radio streams in India with 30 stations and counting

    Music Broadcast promoter Jagran Prakashan CFO R. K. Agarwal said that they already filed the DRHP and post-regulatory approvals, and intend to hit the capital market. Most of the funds would be used to strengthen the capital structure so that a war chest was created to acquire more radio stations as and when opportunity arose, he added.

    Agrawal said it sees a lot of opportunities in radio as its business has been expanding at a CAGR of 15-16 per cent for several years, and has been operating at a margin of 33 per cent.

    Music Broadcast director Apurva Purohit said that the radio sector was the youngest in M&E but was growing fast. Radio’s share in the media and entertainment industry pie was only four per cent of the total advertisement market size due to the tardy pace of regulation, which otherwise could have been as high as 12 per cent.

  • Music Broadcast plans IPO; to make buys

    Music Broadcast plans IPO; to make buys

    MUMBAI: Music Broadcast Private Limited, which operates one of the leading FM radio stations — Radio City — is planning to list. It is preparing to bring out a public offer of over Rs 500 crore comprising a fresh issue of Rs 400 crore and an offer for sale of 26.59 lakh equity shares by the promoters’ family.

    The proceeds from the issue will be utilised to retire debt of around Rs 150 crore, and the remainder to create a “war chest” for future acquisitions.

    Radio City 91.1 FM brand has been synonymous with the category since inception in 2001. Innovative programming and marketing initiatives have helped Radio City pioneer FM in India. In phase III auction, the network expanded its footprint by efficiently adding 11 new markets after carefully selecting towns with greater SEC AB population. With the addition of the new towns and addition of Radio Mantra towns, Radio City reaches to 39 most important towns of India dominating the most important advertiser markets. The first FM station will be launching internet radio streams in India with 30 stations and counting

    Music Broadcast promoter Jagran Prakashan CFO R. K. Agarwal said that they already filed the DRHP and post-regulatory approvals, and intend to hit the capital market. Most of the funds would be used to strengthen the capital structure so that a war chest was created to acquire more radio stations as and when opportunity arose, he added.

    Agrawal said it sees a lot of opportunities in radio as its business has been expanding at a CAGR of 15-16 per cent for several years, and has been operating at a margin of 33 per cent.

    Music Broadcast director Apurva Purohit said that the radio sector was the youngest in M&E but was growing fast. Radio’s share in the media and entertainment industry pie was only four per cent of the total advertisement market size due to the tardy pace of regulation, which otherwise could have been as high as 12 per cent.