Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Banking/  BAG Films to raise Rs300crore through IPO
BackBack

BAG Films to raise Rs300crore through IPO

BAG Films to raise Rs300crore through IPO

Premium

Mumbai: BAG Films Ltd., a company in broadcasting and content production is hoping to raise Rs300crore through an initial public offering and the private equity route. According to the company’s estimates the expected valuation their broad casting business would be Rs650crore (Rs350 -400crore for News 24 their Hindi news channel and Rs250-300 crore for E 24 their Bollywood entertainment channel.) The company is expected to dilute 40 to 50% stake in the broadcasting business which includes News 24, E24 and Dhamaal24 (radio network). Bag Films would remain as largest shareholder in broadcasting business.

The company is hoping to raise Rs150crore through private equity and is likely to go public within one year to raise another Rs150 crore. The funds raised would be used to launch a sports news channel for the Hindi speaking market. This new launch is expected to require an investment of Rs80 to Rs90crore in distribution, buying content, marketing and additional infrastructure.

BAG Films also plans to expand its E24 channel in Western and Southern zone, majorly in Kolkatta and Bengaluru. The content production unit is also working on three new programs of one year duration which will require an investment of Rs12crore each. The remaining funds would be used for acquiring new formats in the content business.

gouri.s@livemint.com

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Aug 2010, 05:27 PM IST
Next Story footLogo
Recommended For You
Banking Stocks
₹1,053.6-0.5%
₹1,440.70.52%
₹1,0841.08%
₹122.751.3%
₹734.052.53%
Switch to the Mint app for fast and personalized news - Get App