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DB Corp public issue opens tomorrow

10 Dec 09 | The Hindu Business Line

The IPO Media house DB Corp, the publisher of Dainik Bhaskar, will open on Friday and close on Tuesday.

The price band has been fixed at Rs 185-212. The company proposes to give Rs as discount for retail investors to the issue price.

At the upper end of the price band the company plans to raise Rs 385 crore.

The company intends to use the proceeds of the issue for expanding and strengthening its market, launching publication in the new markets, upgrading machinery in some centers and repayment of term loan.

DB Corp publishes seven newspapers, 50 newspaper edition and 128 sub-edition in three languages (Hindi, Gujarati and English) across 12 states.

Citigroup Global Market India, Enam Securities and Kotak Mahindra Capital are the book running lead managers to the issue.

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