Videocon D2H plans to raise Rs 700cr via IPO
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01 Oct 2014
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Direct to home service provider Videocon D2H has filed for an initial public offer (IPO) to raise up to Rs 700 crore, the market regulator Sebi said on Wednesday, reported media. The company had taken the regulator’s approval in March 2013 for its proposed IPO but did not open the same due to bad market conditions. In an earlier interview to CNBC-TV18, the chairman and managing director Venugopal Dhoot had said that Videocon D2H is looking at a Diwali release for its proposed float. “We would like to go up to 2 crore customers very soon. Then we will have a big strength and for that expansion purpose we would be requiring money. Debt we will be paying back out of the EBITDA profit which we will be getting and that is quite in control. So, for DTH, the expansion money will be required and that is why we decided to go for IPO,” he had said. |
| Source: Dion Global Type: IPO Related |
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