Madhya Pradesh Today Media Ltd. IPO Opens On 19 September, 2017
Mumbai. September 15, 2017. Madhya Pradesh Today Media Ltd., one of the leading daily newspaper brands with 13 editions and a circulation of around 20 lakhs copies across Madhya Pradesh, Chattisgarh, Maharashtra, Delhi and Uttar Pradesh opens its Initial Public Offering (IPO) on 19 September 2017. The Company’s IPO (IPO) is of 21,46,500 equity shares of face value of Rs. 10/- each fully paid up for cash at a price of Rs. 66 per equity share aggregating Rs. 1416.69 lakhs. This would constitute 47.01% of the post Issue equity share capital. The shares would be listed on NSE Emerge platform and the IPO will close on 21 September 2017. Mark Corporate Advisors Private Limited is the sole Lead Manager to the Issue.
The proceeds of the issue will be utilised towards expansion of business by upgrading unit offices in various cities in Madhya Pradesh and Chhatisgarh, working capital requirements, general corporate expenses and Issue expenses.
Madhya Pradesh Today Media Ltd. publishes 13 morning daily newspaper editions under the name of ‘Pradesh Today’ from Bhopal, Indore, Gwalior, Jabalpur, Rewa, Katni, Sagar, Ujjain, Maharashtra, Uttar Pradesh, Delhi, Chindwara and Raipur besides two evening editions from Bhobal and Jabalpur. The Company also manages an online news portal www.pradeshtoday.com. Pradesh Today was first launched in 2010 in Madhya Pradesh.
Madhya Pradesh Today Media Ltd. has clocked the turnover of Rs. 192,755,007, Rs. 152,425,146 and Rs. 154,115,764 for the fiscal year ending 2017, 2016 and 2015 and profits of Rs. 23,302,760, Rs. 6,521,908 and Rs. 4,199,171 respectively. Last year, over 90% of its revenue came from advertising while the rest from the sale of newspaper copies.
The Indian print industry grew at a rate of 7.60 per cent from INR 263 billion in 2014 to INR 283 billion in 2015. Having grown by 7.30 per cent in 2015, the print advertisement revenue reached INR189 billion. The advertisement revenues have grown at a CAGR of 8.50 per cent between 2010 and 2015, whereas the circulation revenues have displayed a CAGR of 7.1 per cent during the corresponding period. Advertising continued to be the backbone of the print industry, accounting for more than 66 per cent of the total revenues, whereas the circulation revenue made up for the rest.
With the readership being largely limited to the country’s metro and tier-I cities, the trend of English language newspapers dominating the advertising budgets of companies is slowly waning. Advertisers have started increasingly been factoring in the Hindi and vernacular print media segment, as they directly reach customers in prospering tier-II and tier-III cities/regions of the country.
