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Asianet Satellite Communications files draft papers for Rs.765-Cr IPO

Economic Times  

Thiruvananthapuram-based Asianet Satellite Communications Ltd has filed its draft red herring prospectus (DRHP) with Sebi for an INR 765 crore IPO. The IPO consists of a fresh issue of equity shares aggregating to INR 300 crore, and an offer for sale (OFS) of up to INR 465 crore by Hathway Investments Pvt Ltd. From the fresh issue proceeds, INR 160 crore will be for part payment of loans availed from lenders, INR 75.04 crore for funding working capital requirements and general corporate proposes. Axis Capital and Nomura Financial Advisory and Securities (India), are the book running lead managers to the issue. The company is one of the leading internet service providers offering broadband internet service and multi-system operators offering digital cable television services in Kerala.

From the Venture Intelligence PE-VC Deal Database: Between Mar-05 and Sep-10 Asianet raised $70.5 M from Jupiter Capital, Americorp (both fully exited) and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)