Under this IPO of Asianet Satellite Communications, fresh shares worth Rs 300 crore will be issued.
Asianet Satellite Communications IPO: Leading Internet Service Provider Company Asianet Satellite Communications Limited is going to bring IPO. The company has submitted a draft paper to the market regulator SEBI for this. The company wants to raise Rs 765 crore through this IPO.
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IPO related details
According to the Red Herring Prospectus (DRHP), fresh shares worth Rs 300 crore will be issued under this IPO. In addition, shares up to Rs 465 crore will be sold under Offer for Sale (OFS) by Hathway Investments. Out of the proceeds of the fresh issue, Rs 160 crore will be used to repay the loan. In addition, Rs 75.04 crore will be used to meet working capital requirements and for general corporate purposes.
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Know about the company
- This company is one of the leading Internet Service Providers. It offers broadband Internet service and multi-system operators that provide digital cable television service. The company’s presence is mainly in Kerala.
- The company’s revenue from operations grew by 13.12 per cent to Rs 510.07 crore in the financial year 2020-21 as against Rs 450.91 crore in the financial year 2019-20.
- This increase is mainly due to the increase in the number of subscribers under the broadband business of the company.
- Its annual profit increased from Rs 0.29 crore to Rs 31.03 crore in FY 2021.
- Axis Capital Limited, Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers of the issue.
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