ITV

Tag: QIP

  • Balaji Telefilms receives board nod to raise Rs 250 crore

    Balaji Telefilms receives board nod to raise Rs 250 crore

    MUMBAI: With a target set to make digital B2C (business to consumer) under the ALT Digital umbrella as its core business in five years’ time, the Ekta Kapoor helmed Balaji Telefilms Ltd is arming itself with a war chest of funds to enter the market with guns blazing.

     

    The company, which was looking at raising Rs 250 crore to ramp up its digital business, has nowreceived board approval for the same. 

    The funds will be raised by way of QIP, GDR, ADR, FCCB, other securities linked to equity, preference shares or any instrument or securities representing convertible securities. 

    This is subject to approval of the company’s shareholders and other necessary approvals. 

    Additionally, the board has also approved to increase the authorised share capital of the company from Rs 20 crore to Rs 26 crore, subject to approval of shareholders.

  • Den Network gets board nod to include primary market route for foreign investment

    Den Network gets board nod to include primary market route for foreign investment

    MUMBAI: Den Network’s board of directors has given its nod for filing of application to Foreign Investment Promotion Board (FIPB) for modification of the approval to include the primary market route as well. 

     

    The primary market route could  include issuance of long term securities including equity, quasi equity, GDR, QIP, FCCB, preferential allotment, bonds or any other appropriate securities, subject to the approval of the shareholders and all other applicable laws and statutory approvals as may be required.

     

    The board considered that the company has already got the approval from FIPB, Ministry of Finance on 14 August, 2015 to increase foreign investment limit in the company beyond 49 per cent and up-to 74 per cent by FIIs, NRIs, FPls and other eligible foreign investors through the route of secondary market and open market purchase. 

     

    It may be recalled that late last month, the Reserve Bank of India (RBI) too gave the company its approval for foreign investors to raise their stake in the company up to 74 per cent.

     

    At the end of the September quarter (Q2-2016), foreign portfolio investors (FPIs) held a 22.79 per cent stake in the company, whereas the promoters’ stake in the cable operator was 40.05 per cent.

     

    The company’s Board of Directors, at its meeting held on 3 November, also approved the resignation of nominee director of the company Shahzaad S Dalal. 

     

    Den also approved the appointment of Krishna Kumar as non executive nominee director of the company.  

     

    Den Network will also seek approval from the Ministry of Information and Broadcasting (MIB) and statutory authorities for the appointment of Archana Hingorani as non-executive nominee director.

  • PVR receives shareholders’ nod to raise Rs 500 crore via NCDs

    PVR receives shareholders’ nod to raise Rs 500 crore via NCDs

    MUMBAI: Multiplex chain PVR has received shareholders’ approval to raise Rs 500 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

    Additionally, the shareholders also approved a dividend of Rs 1 on each equity share for FY 2014-15 at its 20th annual general meeting (AGM).

    It may be recalled that last year, the PVR board had approved a plan to raise Rs 500 crore via qualified institutional placement (QIP).

     

    As of July 2015, PVR operates 474 screens across 106 locations in 43 Indian cities, which are spread across 15 States and one Union Territory.

    For the quarter ended 30 June, 2015, PVR posted net profit of Rs 56.67 crore as compared to Rs 8.47 crore for the quarter ended 30 June, 2014. The company’s total income increased from Rs 343.24 crore for the quarter ended 30 June, 2014 to Rs 462.82 crore for the quarter ended 30 June, 2015.

  • Ybrant Digital Q2 net falls 3%; to raise funds for expansion

    MUMBAI: Global digital marketing company Ybrant Digital Limited reported a 3.11 per cent fall in its net profit in the second quarter ended 30 September on increase in expenses.

    The company‘s net profit for the second quarter was Rs 502.1 million, down from Rs 518.2 million a year earlier.

    The fall in profit margin has been attributed to a 36.3 per cent rise in expenditure in the second quarter to Rs 3.45 billion from Rs 2.52 billion a year earlier, largely contributed by increase in employee benefit cost, software purchase expenses and general administrative expenses to Rs 1.84 billion from Rs 1.25 billion a year earlier.

    Ybrant‘s revenue in the second quarter was Rs 4.25 billion, 37.86 per cent more than Rs 3.08 billion a year earlier.

    The company‘s revenue for the first six months of the year was Rs 8.06 billion, up 38.84 per cent from Rs 5.80 billion a year earlier. Its net profit in the first half of the year was Rs 1.1 billion, up 15.07 per cent from Rs 954.5 a year earlier.

    The company said, “The Board has discussed and considered the proposal to raise funds via QIP/FCCB/PIPE to meet the expansion plans of the company. We have constituted a sub-committee to facilitate the process including appointment of bankers, legal counsels and other advisors.”

  • GBN to change name to ibn18 Broadcast

    GBN to change name to ibn18 Broadcast

    MUMBAI: Global Broadcast News (GBN) will be changing the name of the company to ibn18 Broadcast. For this purpose, the members of the company are going to have an extra ordinary general meeting (EGM) on 10 March.

    GBN currently operates English news channel CNN-IBN and Hindi news channel IBN 7. It has already entered into an equal joint venture with Lokmat to launch a Marathi language news channel. GBN is also launching a general entertainment channel (GEC) in a joint venture with Viacom.

    Meanwhile the GBN board has approved a proposal to raise up to Rs 6 billion through qualified institutional placement (QIP). The company has also got FIPB (foreign investment promotion board) clearance to raise up to Rs 5 billion.

  • TV18 to raise Rs 2 billion, open to print entry

    TV18 to raise Rs 2 billion, open to print entry

    MUMBAI: Raghav Bahl-promoted TV18 is raising Rs 2 billion through a fresh equity issue to fund its organic and inorganic expansion plans.

    The company is keen to acquire a business newspaper, completing the chain across television channels, internet and print. Sources say TV18 is eyeing financial daily Business Standard where Uday Kotak is the largest shareholder and the others include Financial Times and Great Eastern Shipping.

    TV18 has mandated HSBC and will raise Rs 2 billion through a qualified institutional placement (QIP). The funds are being kept ready as the company plans to expand its business and is also hunting for opportunities in new areas.

    “We are going for a QIP issue of Rs 2 billion,” confirms TV18 Group managing director Bahl. “We have several expansion plans. We are also looking at an opportunity in the business print space but nothing has come up,” he adds, while defending against any suggestion of pursuing talks with Business Standard.

    The QIP issue will involve a small dilution as regulations make it mandatory for Network 18, the holding company for TV18 and Global Broadcast News (GBN), to own at least 51 per cent in the news ventures. The current holding of Network 18 in TV18 is 53 per cent while in GBN it is 57 per cent (post-IPO).

    Network 18 also has non core TV businesses in Studio 18 and Shop 18. The company expects Studio 18, which is engaged in movie business, to rake in a revenue of Rs 1 billion in the first full year of operations. The plan is to produce a movie every month. In Shop 18, the 24-hour television network dedicated to home shopping, trial runs have been conducted and the call centres are coming into place.

    Network 18 has already raised a debt of Rs 700 million which will take care of its current funding needs, the source says while not ruling out further fund raising exercises in future.

    TV18 houses two business channels, CNBC TV18 and CNBC Awaaz, a clutch of internet properties, financial wire service Crisil Marketwire (which was recently acquired and renamed Newswire 18) and an e-broking venture with partners.

  • Pyramid Saimira to form JV for 100 malls, plans to raise Rs 4 billion

    Pyramid Saimira to form JV for 100 malls, plans to raise Rs 4 billion

    MUMBAI: Chennai-based theatre chain company Pyramid Saimira will enter into a 40:60 joint venture with a leading real estate company for setting up 100 malls entailing an investment of Rs 60 billion.

    The buzz is that Pyramid will sign the deal with IVRCL Infrastructure and Projects Ltd. “We are in talks with three leading real estate developers including IVRCL but haven’t concluded anything yet. All the three are listed companies,” says Pyramid Saimira Theatre Ltd. managing director PS Saminathan.

    Pyramid Saimira will raise around Rs 4 billion through a foreign currency convertible bond (FCCB) or a qualified institutional placement (QIP) as its share of funding for the project. “We could even go for a mix of both FCCB and QIP. We have no debt in the company and can leverage our cash balance. The equity dilution will be around 5-6 per cent,” says Saminathan.

    Pyramid will set up a special purpose vehicle for the project. The company has identified 700 locations in South India, out of which 200 it has found feasible for sustaining a multiplex or mall. In West Bengal it will have 15 locations for its malls and multiplexes, four of which will be in Kolkata. “Every location should be able to generate Rs 500 million from the second year of operations for it to be viable,” says Saminathan.

    The plan is to have 300 screens through this venture. The malls, covering 20-25 million square feet of space, will be spread across the southern states of India and West Bengal. “We will have 50 per cent of the malls dedicated for the entertainment sector,” says Saminathan.

  • WWIL likely to raise $100 million via QIP

    WWIL likely to raise $100 million via QIP

    MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group’s demerged cable company, is likely to raise $100 million through qualified institutional placement (QIP) to fund its expansion programme including digitalisation and acquisition of cable operators.

    “WWIL is likely to raise $100 million via QIP as part of its fund raising programme but will take a final decision on this soon. Everything will depend on the market conditions,” a source close to the company says.

    When contacted, WWIL managing director Jagjit Singh Kohli said the exact amout and instrument has not yet been decided. “I will be able to comment after we have decided and taken the shareholders’ approval,” he added.

    WWIL is making a preferential issue of convertible warrants to Jayneer Capital, a promoter group company, up to Rs 1.31 billion as part of its fund raising programme. This will translate to around 5 per cent equity in WWIL. The conversion price of the warrants into equity shares will be at Rs 122. The company has convened an EGM (Extra Ordinary General Meeting) on 26 February for shareholders’ approval on the issue of preferential warrants.

    “The dilution, along with the warrants, will be around 20 per cent at the current prices if WWIL takes up the $100 million mopping up exercise through QIP,” the source says.

    WWIL has aggressive plans to expand its digital cable business and had earlier projected a fund requirement of Rs 7.14 billion over two years.

    The company recently announced that it would seek shareholders’ approval for raising up to $250 million (approximately Rs 11.25 billion). The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants.
     

  • WWIL plans to raise up to $250 million

    WWIL plans to raise up to $250 million

    MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group’s demerged cable entity, plans to raise up to $250 million (approximately Rs 11250 million) for funding its expansion programme including digitalisation and acquisition of operators.

    The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants. The board has decided to convene a general meeting of the shareholders.

    “This is is just an enabling resolution and we plan to decide on the amount we are going to raise and how within 15 days,” says WWIL managing director Jagjit Kohli.

  • IOL Broadband to raise $390 million via QIP

    IOL Broadband to raise $390 million via QIP

    MUMBAI: IOL Broadband Ltd is in the process of raising Rs 390 million through qualified institutional placement (QIP) to part-fund its IPTV roll out in new cities. Prime Securities is lead managing the issue that will close on Saturday.

    “We are raising Rs 390 million which will be used for expanding into new cities,” says IOL Broadband executive director Oberai.

    IOL Broadband will soon soft launch its IPTV services on the state-owned Bharat Sanchar Nigam Ltd (BSNL) network in Bangalore.

    The company, which has a non exclusive tie up with BSNL for setting up the content delivery network, is also looking at launching IPTV in Kolkata, Chennai, Delhi and Bhopal.

    IOL is yet to make a commercial launch of its IPTV services in MUmbai, the first city where it kickstarted operations on the MTNL network.

    The company has also signed a revenue share agreement for its IPTV service with Anytime, a consortium of major Hollywood Studios comprising Disney, Fox, Warner, and Universal which will provide access to Hollywood movies.

    Bennett Coleman & Co Ltd (BCCL), which is the holding company of the Times Group, has picked up a small stake in IOL Broadband for Rs 50 million.