Network18 For Rs. 2 Billion Rights Issue; Q1 Loss Of Rs. 42 Million
Network18 Fincap, the holding company for TV18 and GBN intends to raise Rs. 2 billion via a rights issue, reports Indiantelevision. The money, as per a source, will be used for repayment of high cost debt and investment in media opportunities. More here.
Network18 Fincap posted a consolidated Q1 net loss of Rs 42 million, as opposed to a profit of Rs 268.7 million for the same quarter last year. Lots of red in the particulars (doc file).
Some stats on Network18 companies from the earnings release:
– Moneycontrol.com claims more page views per million than wsj.com for almost for the entire quarter (were they using Alexa? Not reliable, then)
– Ibnlive.com is ahead of ndtv.com in daily page views.
– Homeshop18 has built the capacity to reach over 2000 towns in India.
– Newswire18′s revenues surged more than 70% on a QoQ basis; over 1000 terminals installed in
Nikhil: From a company point of view Network18 seems so cheap on the bourses compared to a GBN or a Tv18. If I am holding Tv18 would it make sense to buy more into Network 18 Fincap instead of Tv18?
Nikhil, I heard that rights issue has been cancelled because there was a material change in this company as they shifted Studio 18 to Viacom 18. Do you know anything on this. Though Raghav Bahl owns this company only it is presently passing through atough phase. Fundamentally it appears cheap or very cheap but the price knows just one place to go – down.
Nikhil, I heard that rights issue has been cancelled because there was a change in this company as they moved Studio 18 to Viacom 18. Do you know anything on this. Raghav Bahl owns this company only but it is presently passing through a rough patch . Fundamentally it appears cheap or very cheap but the price knows just one place to go – down.
Nikhil, I heard that rights issue has been delayed because of material change in the company as Studio 18 has been moved to Viacom 18. Could you please let me know the present status of rights issue.