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Videocon Industries has gained 2.5% on BSE on the reports about Videocon d2h considering a pre-IPO placement of up to 50 lakh equity shares aggregating to Rs 50 crore with certain investors.
Videocon d2h will complete the issuance and allotment of equity shares pursuant to the pre-IPO placement, if any, prior to the filing of the red herring prospectus with the registrar of companies (RoC).
Apart from the strong presence in consumer durables and home appliances sector, Videocon Industries also has an oil and gas business.
The stocks opened at Rs 168 and hit a high of Rs 177. So far, on BSE and NSE combined around 600,000 shares have changed hands.
