IOL Broadband Raises Rs.39 Crores By Alottment To QIBs

By Nikhil Pahwa Jan. 15, 2007, 6:18pm Comments Off

IOL Broadband, an IPTV content provider, has raised Rs. 39 crores by means of a preferential allotment of shares to Qualified Institutional Buyers (QIBs). The company has allocated 19,50,000 equity shares of face value Rs.10 at a price of Rs.200 each to QIBs; the minimum price had been fixed at Rs.89 per share at the Annual General Meeting on September 29. The stock closed at Rs. 284.65 on the BSE, down Rs.2.60. A year ago, it was around Rs.63. In November 2006, IOL Broadband received Rs 5 crore in investment from Bennet, Coleman & Co (BCCL) and Rs.7 crore from Maula Trading Co.
Related:
- IPTV In India In 2006: Tested, Launched, But Not Marketed To Users
- IOL Broadband Ties Up With BSNL For IPTV
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