Den Networks IPO
Den Networks IPO — date, price band, lot size & details 2009
Den Networks listed on 24 Nov 2009 at ₹195, flat to the ₹195 issue price.
Den Networks is one of India's largest national cable TV companies, distributing analog and digital cable television in 77 cities. Its total income was Rs 271.12 crore in FY2009.
Stock price
Den Networks is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 28 Oct 2009
- Close 30 Oct 2009
- Allotment 13 Nov 2009
- Refund/credit TBA
- Listing 24 Nov 2009
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 to 30 Oct, 2009 |
|---|---|
| Price Band | ₹195 – ₹205 |
| Face Value | ₹10 |
| Lot Size | 30 Shares |
| Issue Size | ₹364.46 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 5,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹195 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹5,850 |
| Retail (max) | 34 | 1,020 | ₹1,98,900 |
| S-HNI (min) | 35 | 1,050 | ₹2,04,750 |
| S-HNI (max) | 170 | 5,100 | ₹9,94,500 |
| B-HNI (min) | 171 | 5,130 | ₹10,00,350 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Its cable services reached about 10 million homes in 77 cities.
- 02Total income rose from Rs 30.01 crore in FY2008 to Rs 271.12 crore in FY2009.
- 03It had 300,000 digital cable subscribers by December 2008.
- 04Rs 210.00 crore of the issue was for cable TV infrastructure.
Risks · 5
- 01It made losses of Rs 22.04 crore in FY2008 and Rs 13.76 crore in FY2009, and return on net worth was negative 7.08%.
- 02It was a very young company, set up only in July 2007.
- 03Total borrowing rose from Rs 20.20 crore in FY2008 to Rs 158.28 crore in June 2009.
- 04Cable TV faces competition from DTH services and rules on carriage and pricing; the issue was priced at Rs 195, the bottom of its band.
- 05Promoter holding fell from 62.65% before the issue to 53.73% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Den Networks offer document.
| Metric | 30 Jun 2009 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Total Income | 77.07 | 271.12 | 30.01 |
| Profit After Tax | -0.62 | -13.76 | -22.04 |
| NET Worth | 217.79 | 218.52 | 193.08 |
| Reserves and Surplus | -36.42 | -35.80 | -22.04 |
| Total Borrowing | 158.28 | 120.90 | 20.20 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Den Networks RHP.
Where the money goes
₹337.58 Cr of the issue is earmarked to named objects.
About the company
It is one of the largest national cable television companies in India, distributing analog and digital cable TV services, as per the MPA Report 2009 cited in the prospectus.
Since 2007 it had expanded analog cable to 77 cities, its cable services reached about 10 million homes, and it launched digital cable under the Digitelly brand in February 2008, with 300,000 digital subscribers by December 2008.
The IPO was Rs 364.46 crore and was entirely a fresh issue at Rs 195, the bottom of the Rs 195 to Rs 205 band. The money was for cable TV and broadband infrastructure, content rights and repaying loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Den Networks IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Deutsche Equities India Pvt. Ltd
14 issues handledBest listing: Reliance Petroleum (+66.6%). Weakest: Adlabs Entertainment (-9.9%).
Antique Capital Markets Pvt. Ltd
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +1.6%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Den Networks?
The current Grey Market Premium is ₹0.
What is the Den Networks IPO price band?
₹195 to ₹205, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 November 2009, with listing on 24 November 2009.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
