Deccan Chronicle IPO to open on November 25

The initial public offering (IPO) of Deccan Chronicle Holdings Limited, which publishes newspapers Andhra Bhoomi and Deccan Chronicle, will open for subscription on November 25.

On offer are 8.01 million shares in the price band of Rs 162-194. The company is expecting an yield of Rs 130-155 crore at this price. The money will be utilised in financing new printing facilities, venturing into new territories and for future strategic initiatives and acquisitions.

Among other things, Deccan Chronicle has plans to enter Tamil Nadu, and the money generated from the IPO will utilised for the purpose. The paper is the leader in the English language segment in Andhra Pradesh with a total of seven editions in Hyderabad/Secunderabad, Viyaywada, Rajmundry, Vizag, Anantpur, Karimnagar and Nellore.