Hindustan Media Ventures closes with a premium of 13.98% on the BSE
Hindustan Media Ventures made a smart closing on its debut date and finished at Rs 189.20, a premium of 13.98% or 23.20 points as against its issue price of Rs 166, on BSE.
The shares of the company opened at Rs 170 and touched a high and a low of Rs 191.90 and Rs 170, respectively. A total of 1,49,43,690 shares were traded on the counter.
Hindustan Media Ventures, a subsidiary of HT Media (HTML) came up with an initial public issue in a price band of Rs 162-175 per share. The issue, which had been priced at Rs 166 a share, the issue was subscribed 5.43 times.
The company will utilize Rs 135 crore or half of the funds raised, for prepayment of loans, Rs 66 crore for setting-up new units and another Rs 55 crore for upgrades.
Hindustan Media Ventures was carved out of HTML as a separate company four months ago. It is one of the leading print media companies in India in terms of readership. The company publishes and prints ‘Hindustan’, the third largest daily newspaper in India in terms of readership with a readership of 9.3 million readers.
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Category: IPO, Stock-News
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