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Lokmat Media plans IPO to fund expansion
One of India's leading print media businesses Lokmat Media has proposed to tap the capital market for funding its expansion plan. It has filed draft red herring prospectus (DRHP) with the SEBI for public issue of 13,829,064 equity shares. It publishes three newspapers: Lokmat in Marathi, Lokmat Samachar in Hindi and Lokmat Times in English which collectively have 17 editions and 58 sub-editions. Lokmat Media's flagship newspaper Lokmat has been the leading Marathi newspaper in terms of average daily circulation and average daily readership in Maharashtra and Goa. Promoters Mr Vijay Darda and Mr Rajendra Darda hold 54.75% stake in company and other family members hold 45.25% stake, which will be reduced to 41.07% & 33.93% post issue.
Company intends to use net issue proceeds of Rs 368.6 crore for upgrading existing printing facilities (Rs 150.36); building capability for expansion to new markets (Rs 90 crore); brand building, promotion and marketing (Rs 30 crore); pre-payment and repayment of loans (Rs 48.23 crore); acquiring and co-producing Indian films, including primarily Marathi language films as well as certain Hindi language films (Rs 25 crore); and investment in IBNL (Rs 25 crore). Book running leading managers to the issue are Kotak Mahindra Capital Company Limited and Enam Securities Private Limited.
Taksheel Solutions files IPO papers with SEBI
Hyderabad based Taksheel Solutions (TSL) has filed draft red herring prospectus with the market regulator SEBI for 55 lakh equity shares IPO. TSL is an IT solution company focused on providing products and services for the companies engaged in financial services industry & telecom. Lexicon Private Limited holds 56.54% stake in company, which will be 42.31% post issue. Promoters Pavan Kumar Kuchana and Ramaswamy Kuchana also hold some stake in company. Total promoter holds will be reduced from 63.31% to 47.37% post issue.
Company proposes to use issue proceeds for setting up a new software development center at Hyderabad; for setting up a new software development center at Warangal; acquisitions and other strategic initiatives; and financing the incremental working capital requirements. PNB Investment Services is the book running lead manager to issue.
IT solutions provider Trimax to raise Rs 250-cr through IPO
IT solutions provider, Trimax IT Infrastructure and Services (Trimax) plans to raise around Rs 250-crore through an initial public offering (IPO) this year. The company hopes to file the draft red herring prospectus (DRHP) with market regulator Sebi over the next 6-months. The Mumbai-based company, which operates in three verticals - System Integration, Data centre services, and IT Infrastructure Management, would be using the proceeds for the firm's domestic as well as overseas expansion, mainly in Africa. Trimax is a partner to Bharat Sanchar Nigam Limited (BSNL) and offers Managed Network Services (MNS) from its Certified Network Operations Centre (NOC) running in Mumbai and Bangalore. It serves its customers through its reach at more than 600 locations across India and aims to be the preferred technology integration, management and solution company for its global customers.
Midvalley Ent IPO fixes price band at Rs 64-70 per share
Chennai-based, Midvalley Entertainment Ltd, engaged in film production, distribution and exhibition in South India has fixed its price band at Rs 64 - Rs 70 per equity share of face value, Rs 10 each. The company plans to raise Rs 60 crore through an initial public offer (IPO). The issue will open on January 10 and closes on January 12.
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