MUMBAI: Agra-based multi-system operator (MSO) Sea TV Network has fixed the price band of its proposed Rs 502 million IPO between Rs 90 and 100 per equity share.
The issue will open on 27 September and close on 29 September.
ICRA Limited has assigned IPO Grade 1 to the Issue. Chartered Capital and Investment Limited is the sole book running lead manager while Link Intime India is the registrar to the Issue. The equity shares will be listed on BSE.
Sea TV, which runs two cable channels Jinvani and Sea News, has applied to the Information and Broadcasting Ministry for news and current affairs channels in the name of Real News, Ocean TV and Your TV. The company is awaiting approval for these three channels.
Sea TV has also proposed to adopt IPTV technology for providing TV channels to its viewers. It has a network of about 150 franchisees throughout Agra city.
Sea TV’s total income for the year ended 31 March 2010 was Rs 94.62 million while net profit stood at Rs 15.05 million.
