TV Today Network Ltd (TVTN) concluded its IPO on December 27, 2003, with the offering being subscribed 36.26 times at the price of Rs 95 per share. TVTN had announced a price band of Rs 80 to Rs 95 (face value of Rs 5 each) for its maiden offering of 1.45 crore shares through the book-building route.
The issue constituted 25 per cent of the fully diluted post-issue paid-up capital of the company. The issue opened on December 18, 2003, and the shares will be listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Keeping in mind the 'overwhelming' response that the IPO has received from retail investors, TVTN has decided to allocate 30 per cent of the offering to the retail investor category, 25 per cent for the non-institutional investors category and the balance 45 per cent to the qualified institutional investors category.
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