Den Networks IPO gets IPO Grade 3 from ICRA - Indian IPO Blog

Monday, October 26, 2009

Den Networks IPO gets IPO Grade 3 from ICRA

The Credit Rating Agency ICRA has assigned IPO Grade 3 to the forthcoming Initial Public Offer (IPO) of Den Networks Ltd.

This implies as per ICRA, the Company has Average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Den Networks Limited is coming up with an IPO which opens for subscription from Wednesday, October 28, 2009. As per the DRHP filed with SEBI in August 2009, the company is planning an IPO of about 2 Crs Equity Shares, each having a Face Value of Rs.10 each. Den Networks Ltd. is in the business of distribution of analog and digital cable television services

Den Networks IPO will remain open till Friday, October 30, 2009. The IPO will comprise a net issue to the public of up to 19,750,000 Equity Shares and a reservation of up to 250,000 equity shares for subscription by eligible employees

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