Hindustan Media Ventures sets Rs 162-175 per share price band for IPO

The IPO opens for bidding on 5 July 2010

The initial public offer (IPO) of Hindustan Media Ventures, the publisher of Hindi daily Hindustan, opens for bidding on Monday, 5 July 2010. The company has set Rs 162-175 per share price band for the IPO. The IPO, through which the media house plans to raise up to Rs 270 crore, closes on 7 July 2010.

Hindustan Media Ventures is a subsidiary of HT Media, the publisher of leading English dailies the Hindustan Times and Mint. The company intends to utilise the IPO proceed for its expansion plans.