GIC Singapore, Fidelity, Rel Capital among DB Corp IPO

DB Corp Ltd, the leading media group, has raised Rs 69.355 crore through allotment of shares to nine anchor investors of its IPO at Rs 212 apiece, the higher end of the price band.

The company plans to garner around Rs 336-385 crore based on price band of Rs 185-212.

The IPO, which opens on Friday, December 11, and closes on December 15, has a reservation of at least 60% for qualified institutional bidders (QIB).

The IPO committee has made allocation of 32,71,500 equity shares (30% of QIB portion) at its meeting on Thursday.

Government of Singapore Investment Corporation (GIC) got the maximum allocation at 17.10%, while FID Funds (Mauritius) Ltd was allotted 15.86% of anchor investor portion.

ICICI Prudential Life Insurance, Reliance Capital, Nomura Funds and Fidelity International have been allocated 12.98% each. The other anchor investors are IDFC Classic Equity Fund (11.54%), FID Funds (15.86%), India Capital Fund (2.88%) and BNP Paribas Arbitrage (0.70%).

DB Corp would utilise proceeds of the IPO for strengthening its existing markets, launching publications in new markets, and reduce its longterm debt and working capital loans.

Disclaimer: DB Corp has no involvement inb Diligent Media Corporation Ltd (DMCL) which publishes the DNA newspaper. But the promoter of DB Corp is also the promoter of DMCL