Issue Price: Rs. 166 | Listing Strategy | | FLIPPERS | Exit Post Listing | | INVESTORS | Hold |
It was the oversubscription from the QIBs of almost 9 times that resulted into an overall subscription of 5.43 times, As we forecasted at the time of the IPO, the IPO price was fixed closer to the lower end of the band at Rs.166, where the anchor investor book was built. DB Corp the market leader in the Hindi print media segment quotes at a lower valuation and thus, the chances of a significant premium sustaining post listing appears limited. Long term investors can however hold on to the stock as the prospects of this segment of the print media industry appear potent. Background Note: Hindustan Media Ventures (HMVL) which is promoted by HT Media, the publisher of leading English dailies - the Hindustan Times and Mint, is the publisher of Hindi daily 'Hindustan'. As per reports, ‘Hindustan’, is the third largest Hindi newspaper with a readership of 9.9 million. HMVL is the market leader in Bihar/Jharkhand, the second largest Hindi daily in Delhi/NCR and the third largest Hindi daily in UP/Uttarakhand. The company publishes four editions and 113 sub-editions of ‘Hindustan’. theIPOguru’s recommendation was http://www.theipoguru.com/article.php?ID=1704 | 
