Bookbuilding IPO | ₹364 Cr | Listed at BSE, NSE | Wed, Oct 28, 2009 - Fri, Oct 30, 2009
Den Networks IPO is a book build issue of ₹364.46 crores. The issue is entirely a fresh issue of 1.86 crore shares of ₹364.46 crore.
Den Networks IPO bidding started from Oct 28, 2009 and ended on Oct 30, 2009. The shares got listed on BSE, NSE on Nov 24, 2009.
Den Networks IPO price band is set at ₹195 per share. The lot size for an application is 30. The minimum amount of investment required by an retail is ₹6,150 (30 shares) (based on upper price). The lot size investment for sNII is 35 lots (1,050 shares), amounting to ₹2,04,750, and for bNII, it is 171 lots (5,130 shares), amounting to ₹10,00,350.
The issue includes a reservation of up to 2,50,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Antique Capital Markets Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Den Networks IPO RHP for detailed Information.
IPO Open
Wed, Oct 28, 2009
IPO Close
Fri, Oct 30, 2009
Issue Price
₹195 per share
Market Cap (Pre-IPO)
₹2,544.55 Cr
| IPO Date | 28 to 30 Oct, 2009 |
| Listed on | Tue, Nov 24, 2009 |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹205 |
| Issue Price | ₹195 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,85,67,240 shares (agg. up to ₹364 Cr) |
| Fresh Issue | 1,85,67,240 shares (agg. up to ₹364 Cr) |
| Share Holding Pre Issue | 11,19,22,735 shares |
| Share Holding Post Issue | 13,04,89,975 shares |
| BSE Script Code / NSE Symbol | 533137 / DEN |
| ISIN | INE947J01015 |
Den Networks IPO comprises a total issue size of 2,00,00,000 shares. The net offer to the public is 1,97,50,000 shares, after excluding 2,50,000 shares under a preferential allotment. Of the Net offer 1,18,50,000 (60.00%) are allocated to QIB, 19,75,000 (10.00%) allocated to NII 59,25,000 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,18,50,000 | 60.00% | 59.25% | NA |
| − Anchor Investor Shares Offered | 23,95,020 | 11.98% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 94,54,980 | 47.27% | NA | |
| NII (HNI) Shares Offered | 19,75,000 | 10.00% | 9.88% | NA |
| Retail Shares Offered | 59,25,000 | 30.00% | 29.63% | 1,97,500 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,50,000 | 1.25% | NA | |
| Total Shares Offered | 2,00,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 30 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹5,850 |
| Retail (Max) | 34 | 1,020 | ₹1,98,900 |
| S-HNI (Min) | 35 | 1,050 | ₹2,04,750 |
| S-HNI (Max) | 170 | 5,100 | ₹9,94,500 |
| B-HNI (Min) | 171 | 5,130 | ₹10,00,350 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Invest in the development of our cable television infrastructure and services | 210.00 |
| 2 | Invest in the development of our cable broadband infrastructure and services | 25.00 |
| 3 | Invest in acquisition of content and broadcasting right | 10.00 |
| 4 | Repayment of certain loans | 40.00 |
| 5 | Fund expenditure for general corporate purposes | 52.58 |
| KPI | |
|---|---|
| RoNW | -7.08% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 62.65% | |
| Market Cap | ₹2,544.55 Cr. |
The Den Networks IPO is subscribed 1.04 times on October 30, 2009 5:00:00 PM (Day 3). The public issue subscribed 0.1 times in the retail category, 1 times in the QIB category, and 4.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1 | 94,54,980 | |
| NII | 4.12 | 19,75,000 | |
| Retail | 0.1 | 59,25,000 | |
| Employee | 0.68 | 2,50,000 | |
| Total | 1.04 | 1,76,04,980 |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee and underwriting and selling commission (including commission to SCSBs for ASBA Applications) etc | 14.85 |
| 2 | Registrar’s fees | 0.10 |
| 3 | Advertising and marketing expenses | 3.00 |
| 4 | Printing and distribution expenses | 2.75 |
| 5 | IPO grading expenses | 0.08 |
| 6 | Advisors | 3.60 |
| 7 | Others (SEBI filing fees, bidding software expenses, depository charges, listing fees, etc.) | 2.50 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹195.00 | ₹195.00 |
| Open | ₹195.00 | ₹195.00 |
| Low | ₹149.50 | ₹149.50 |
| High | ₹197.00 | ₹199.80 |
| Last Trade | ₹163.10 | ₹163.40 |
Lead Manager Reports
Den Networks IPO is a main-board IPO of 1,85,67,240 equity shares of the face value of ₹10 aggregating up to ₹364 Crores. The issue is priced at ₹195 per share. The minimum order quantity is 30.
The IPO opens on Wed, Oct 28, 2009, and closes on Fri, Oct 30, 2009.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Den Networks IPO using UPI as a payment gateway. Zerodha customers can apply in Den Networks IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Den Networks IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Den Networks IPO opens on Wed, Oct 28, 2009 and closes on Fri, Oct 30, 2009.
Den Networks IPO lot size is 30, and the minimum amount required for application is ₹5,850.
You can apply in Den Networks IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Den Networks IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Den Networks IPO allotment status.
The Den Networks IPO listing date is on Tue, Nov 24, 2009.
