DB Corp., publisher of Dainik Bhaskar and Divya Bhaskar, and joint venture partner in DNA, opened its initial public issue of shares and was subscribed 0.62 times on day one. The price band of the issue is Rs185-212. Competitor Jagran Prakashan is trading at Rs125.40.
The company plans to raise Rs381.85 crore from this issue, according to Moneycontrol.com. The company has received commitment worth Rs69.35 crore from anchor investors on Thursday, the financial portal reported. Nine anchor investors have subscribed to 32,71,500 equity shares at Rs212 per equity share. The total issue is of 18,175,000 equity shares.