MUMBAI: SoftBank of Japan and Indea Capital have come in as anchor investors as Den Networks‘ IPO (initial public offering) opens Wednesday.

"SoftBank and Indea Capital are investing into Den. They are coming at the upper end of the IPO price band," a source tells Indiantelevision.com. Den has fixed its IPO price band at Rs 195-205.

Post IPO, SoftBank and Indea Capital will hold 1.8 per cent in Den, a cable TV company floated by IBN18 Broadcast Ltd joint managing director Sameer Manchanda and Lucid Systems. "SoftBank will have a major portion of this," the source adds.

In July, Den had raised Rs 750 million from EMSAF Mauritius, part of the $10 billion Emerging Markets Management LLC. Earlier, Den had raised Rs 2 billion in two tranches from funds managed by IL&FS Investment Managers (IIML).

The valuation of Den, which has set its footprint across India by acquiring cable TV networks, works out to Rs 27.04 billion on the upper side and Rs 25.73 billion at the lower end of the price band.