Sea TV Network IPO subscribed 9.58 times on final day
Bangalore: The IPO by Sea TV Network received an excellent response from investors was subscribed 9.58 times on Wednesday, the final day of the issue.
The issue through which the company aims to garner up to 
50.2 crore, got total bids for over 5.34 crore shares, compared to 55,77,777 equities on offer, as per the NSE data. Qualified institutional investors, non-institutional and retail investors' reserved portion subscribed 1.66 times, 40.94 and 7.45 times, respectively.
The company had entered the capital market on 27th September with a price band of 90 to 100 per equity share of 10 each. The company has made a profit of 1.5 crore and it still has negative cash flow. For this huge profit it wants its market cap to be 120 crores by raising 50 crore from investors.
The firm aims to utilize part of the net proceeds of the issue for expansion plans, which includes setting up of a digital headend and network for implementation of Conditional Access System (CAS).
The company provides services to various local cable TV operators of Agra city. Chartered Capital and Investment is the sole book running lead manager to the issue.
Sea TV's total income for the year ended 31 March 2010 was 94.62 million while net profit stood at 15.05 million.
Chartered Capital and Investment Limited is the Book Running Lead Manager to the Issue and Link Intime India is the Registrar to the Issue. The Equity shares are proposed to be listed on BSE, the designated stock exchange.
50.2 crore, got total bids for over 5.34 crore shares, compared to 55,77,777 equities on offer, as per the NSE data. Qualified institutional investors, non-institutional and retail investors' reserved portion subscribed 1.66 times, 40.94 and 7.45 times, respectively.
The company had entered the capital market on 27th September with a price band of 90 to 100 per equity share of 10 each. The company has made a profit of 1.5 crore and it still has negative cash flow. For this huge profit it wants its market cap to be 120 crores by raising 50 crore from investors.
The firm aims to utilize part of the net proceeds of the issue for expansion plans, which includes setting up of a digital headend and network for implementation of Conditional Access System (CAS).
The company provides services to various local cable TV operators of Agra city. Chartered Capital and Investment is the sole book running lead manager to the issue.
Sea TV's total income for the year ended 31 March 2010 was 94.62 million while net profit stood at 15.05 million.
Chartered Capital and Investment Limited is the Book Running Lead Manager to the Issue and Link Intime India is the Registrar to the Issue. The Equity shares are proposed to be listed on BSE, the designated stock exchange.
