Online edition of India's National Newspaper
Wednesday, Feb 14, 2007
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Online edition of India's National Newspaper Wednesday, Feb 14, 2007 ePaper |
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Corporate Reporter
CHENNAI: Raj Television Network, a leading regional broadcaster and media company, is entering the capital market with an initial public offering (IPO) of 35.68 lakh equity shares of Rs. 10 each at a premium through book building. The price band has been fixed between Rs. 221 and Rs. 257 per share. The issue is open from February 14 to 23. Addressing presspersons here on Tuesday, M. Raajhendhran, Managing Director, said the funds mobilised would be utilised to strengthen production facilities, enhance content and content acquisition and launch a new youth-centric television channel. Raj TV Network has at present two channels Raj TV and Raj Digital Plus. According to B. Sathya Prakash, Senior Vice-President, the company would be establishing a new studio adjacent to its existing production facilities in Chennai at an outlay of Rs. 7.15 crore. The launch of new television channel would involve an investment of Rs. 10.68 crore, he said.
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