Exchange4media.com: TV18 Group is going places. Its group company Global Broadcast News Ltd (GBN), which owns the English news channel CNN-IBN and part-owns Hindi channel Channel 7, is going in for an IPO. The company has filed its Draft Red Herring prospectus with the Securities and Exchange Board of India, the market regulator, the first step before a public issue. GBN will raise about Rs 105 crore through the issue of equity shares of Rs 10 each at a premium to be decided through the 100 per cent book-building process.
The equity shares are proposed to be listed on the Bombay Stock Exchange as well as the National Stock Exchange.
Taking a company public is definitely the sign of confidence in the company by its management.
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