Published on Mon, Mar 08, 2010 at 12:57 | Source : CNBC-TV18
Updated at Mon, Mar 08, 2010 at 14:01
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Angel Broking neutral on DQ Entertainment IPO
In an exclusive interview with CNBC-TV18, Anand Shah, Angel Broking, speaks about the initial public offering of DQ Entertainment and gives his outlook going forward.
Q: HT Media has opened very firm today because its subsidiary has filed its Draft Red Herring Prospectus (DRHP) to raise about Rs 300 crore via an IPO, any thoughts on the new business from that fold which is going to get listed?
A: They had already outlined that they are looking at an IPO, given very strong opening for DB Corp , which had earlier raised similar amount, it was already in the play. They had already demerged the Hindi business into separate entity HT Media Ventures which holds about 99% stake and outlined that they will look for an IPO. So just the pre-initial details are out, we have not looked into the full details, but it is a positive sentiment booster for the stock. It will help them to basically unlock value for the Hindi business which in the last quarter had done about Rs 100 crore plus revenue and has 15% margin. It's a business which is growing at 15-20% compound annual growth rate (CAGR), so that should be positive for the stock.
