Videocon d2h to file fresh draft prospectus for stock market listing

Videocon d2h, the satellite television arm of Videocon Group, will have to file a new draft prospectus for an initial public offering (IPO) in domestic markets after fund raising via American depositary shares (ADS), Saurabh Dhoot, director of the company, told Reuters.

Videocon d2h agreed to sell ADS worth up to US $375 million to US-based Silver Eagle Acquisition in January, which would get listed on Nasdaq stock exchange on Tuesday.

That means the satellite television company has to file a new application after filing one in October 2014 to raise up to Rs 700 crore ($113.3 million).

"We would have a market cap of close to US $1.2 billion and an enterprise value of US $1.5 billion after Nasdaq listing," Dhoot added.

(Reuters)