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The wait is over ! DB Corp to list on 6th Jan
5 Jan 10 | DNA Money
MUMBAI, January 4, 2010: In one of the eagerly awaited listings, media house DB Corp will ring the gong at the stock exchanges on January 6.
DB Corp had a big hit with its IPO last month with the issue getting subscribed by nearly 40 times last month. DB Corp, which publishes Dainik Bhaskar, entered the capital markets with its IPO of 1.81 crore equity shares on December 11, 2009 at a price band of Rs.185-Rs 212.
Despite choppy market conditions, the IPO received a record response from investors with even the retail segment getting subscribed by 3.4 times. The HNI portion got subscribed 25.86 times and QIB 68.47 times. Enam Securities Private Limited, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the issue.
"The DB Corp issue, the last IPO for the calendar year 2009, has been a resounding success. The issue is probably one of the highest since the revival of the IPO markets in July - August 2009. The highlights of the issue were a sound business, demonstration of delivering capability as was done in Gujarat and the pricing of the issue. All classes of investors have lapped up the issue because they believe that this is something in which money can be made,” said noted analyst Arun Kejriwal, MD of KRIS.
Rating agency Credit Analysis & Research Ltd (CARE) has assigned the IPO a grade of 4 on a scale of 1 to 5. This grade indicates that the fundamentals of the issue are above average, relative to other listed equity securities in India. Given the strong position of DB Corp in its key markets and resilient long-term prospects of the regional advertisement industry the company looks well poised for healthy growth.
DB Corp has a presence largely in Tier II and Tier III cities, where the growth opportunities are still huge. It has an innovative approach to exploring new market opportunities in local and regional areas, which has allowed it to expand the market and compete with established competitors to become one of the market leaders in local and regional publishing. The company focuses on the size of the potential local market. It develops and implements large scale strategies to enter and expand into these new local markets.
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Our Dream:
To emerge as a powerful group in the international media scenario in the next 5 years. Though our origin in India and we are rooted in India but our views and conduct are global. We shall study the world media and will follow the policies, which are unparalleled in the world. Our efforts shall not be confined merely to newspapers. We shall move ahead with time and shall reach the heights untouched by others.
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