HT Media today said its subsidiary Hindustan Media Ventures Ltd plans to raise up to Rs 300 crore through an initial public offer and has filed draft papers with the market regulator SEBI for the same.
Hindustan Media Ventures has filed the draft red herring prospectus with Sebi with respect to its proposed IPO for cash at a price including share premium, aggregating up to Rs 300 crore, HT Media said in a filing to the Bombay Stock Exchange.
HT Media Ltd is the publisher of English daily The Hindustan Times. In addition to Hindustan Times, HT Media also publishes a national business newspaper--Mint.
Hindustan Media Ventures is the publisher of Hindi daily newspaper Hindustan.
HT Media is listed on the BSE as well as on National Stock Exchange.
On the BSE, Shares of HT Media today closed at Rs 147.90, higher by 1.61 per cent.
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