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Videocon d2h to file afresh for India IPO - official

Published 31/03/2015, 09:45
Videocon d2h to file afresh for India IPO - official

MUMBAI (Reuters) - India's Videocon d2h Ltd, the satellite television arm of Videocon Group, will have to file a new draft prospectus for an initial public offering in domestic markets after fund raising via American depositary shares (ADS), Saurabh Dhoot, director of the company, told Reuters.

Videocon d2h agreed to sell ADS worth up to $375 million (254 million pounds) to U.S.-based Silver Eagle Acquisition Corp in January, which would get listed on Nasdaq stock exchange on Tuesday.

That means the company has to file a new application after filing one in October 2014 to raise up to 7 billion rupees (77 million pounds).

"We would have a market cap of close to $1.2 bln and an enterprise value of $1.5 billion after Nasdaq listing," Dhoot added.

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