Den Network IPO to open on October 28

denblogDen Networks Limited, one of the largest national cable television companies in India, has decided to enter the capital market on October 28, 2009 with an initial public offering (IPO) of up to 2 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The price band has been fixed at Rs 195 to Rs 205 per share. The issue will close on October 30, 2009.

Den Networks Ltd., a cable distribution entity with a pan-Indian footprint engaged in the distribution of analog and digital cable television services. The company currently provides 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.

The IPO Proceeds will utilized to partly fund the Company's plans to invest in the development of cable television infrastructure and services; the development of cable broadband infrastructure and services; and acquisition of content and broadcasting rights amongst others.

The Equity Shares are proposed to be listed on BSE and NSE.

The Global Coordinator and Book Running Lead Manager for the Issue is Deutsche Equities India Private Limited, while Antique Capital Markets Private Limited is its Co-Book Running Lead Manager.