DB Corp to list on on Jan 6; issue price at Rs 212

Media house DB Corp, which publishes Hindi daily Dainik Bhaskar, will list its equity shares on the bourses on January 6.

The firm, which publishes newspapers in Hindi, Gujarati and English, would list 1.81 crore shares at Rs 212 each - the upper end of its price band.

DB Corp had fixed issue price for non-retailers at Rs 212 per share, while for retail investors it is at Rs 210- a discount of Rs 2 per equity.

DB Corp's Initial Public Offer (IPO) received robust response and got subscribed nearly 40 times, becoming the best in terms of investor demand so far this year.

The IPO received bids for over 58.89 crore shares against 1.49 crore shares on offer, generating demand of 39.52 times. The issue had opened on December 11, 2009, and closed on December 15, 2009.

The company mopped up Rs 385 crore through the public offer and plans to use the proceeds for launching its publications in newer markets and to repay some of the debts.

DB Corp is planning to expand its presence in tier II and tier III cities in the next two years.

DB Corp publishes 7 newspapers, 48 newspaper editions and 128 sub-editions in three languages in 11 states in the country.