Incorporated in 2007, Den Networks Limited is one of the largest national cable television companies in India engaged in the distribution of analog and digital cable television services. They launched their digital cable television services in February 2008 under the brand “Digitelly”. Den Networks currently provide cable television services in the National Capital Region of Delhi and the states of Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala.
Den Networks offer up to 180 channels through their digital cable television service. Den also provides value-added services to their subscribers, such as an interactive electronic programme guide, programme reservations, “red button” initiatives, audio music channels, on-screen reminders, interactive games and parental controls. They are also planning for additional value-added services such as pay-per-view services, interactive educational programmes, personal video recording and mosaic viewing.
In January 2008, Den Networks entered into a 50:50 joint venture agreement with STAR with respect to STAR-DEN. STAR-DEN acts as a content aggregator and currently has the exclusive right to distribute 23 television channels including the entire STAR group of channels, the entire Disney group of channels, selected Network18 channels, the entire Times Group of channels etc in India, Bhutan and Nepal.
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:
1. To invest in the development of cable television infrastructure and services;
2. To invest in the development of cable broadband infrastructure and services;
3. To invest in acquisition of content and broadcasting rights;
4. To repay certain loans availed by the Company;
5. Fund expenditure for general corporate purposes.
»» Issue Open: Oct 28, 2009 - Oct 30, 2009
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 18,567,240 Equity Shares of Rs. 10
»» Issue Size: Rs. 364.46 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 195 - Rs. 205 Per Equity Share
»» Market Lot: 30 Shares
»» Minimum Order Quantity: 30 Shares
»» Listing At: BSE, NSE
ICRA has assigned an IPO Grade 3 to Den Networks Ltd IPO. This means as per ICRA, company has Average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.Link to download ICRA rating document.
|Number of Times Issue is Subscribed (BSE + NSE)|
|As on Date & Time||QIB||NII||RII||Employee||Total|
|Shares Offered / Reserved||9,454,980||1,975,000||5,925,000||250,000||17,604,980|
|Day 1 - Oct 28, 2009 17:00 IST||0.2484||0.0003||0.0345||0.0000||0.1500|
|Day 2 - Oct 29, 2009 17:00 IST||0.3387||0.1558||0.0494||0.0126||0.2200|
|Day 3 - Oct 30, 2009 17:00 IST||1.0004||4.1244||0.0963||0.6809||1.0400|
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