Videocon d2h plans IPO by Diwali
Indian direct-to-home (DTH) operator Videocon d2h is expected to launch an initial public offering (IPO) by Diwali, according to local reports.
The IPO, on the cards since the market regulator Sebi granted permission in March 2013, had been postponed until now due to challenging market conditions. The decision to launch the IPO follows the company's positive EBITDA in the last quarter.
"We are engaged with our advisors and investment bankers. We have appointed Axis Capital among others to advise us on the same. We are planning the IPO this financial year," Saurabh Dhoot, director of Videocon, told The Times of India.
Videocon d2h currently has 11 million subscribers and has been growing at 40% CAGR, Dhoot told the daily newspaper.
The company hopes to raise around INR7 billion to fuel expansion and deliver value added services to customers, Dhoot told CNBC-TV18, citing its plans to provide India's first 4K UltraHD service as a market advantage.