IPO Watch: Collect money, this Tata group company is going to bring IPO Tata Group company tata sky tata play is going to bring IPO

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IPO Watch: Collect money, this Tata group company is going to bring IPO Tata Group company tata sky tata play is going to bring IPO


Photo:PTI/FILE Tata Group IPO

Highlights

  • Preparation to file draft with market regulator SEBI by the end of this month
  • The company was preparing to bring IPO only last year.
  • Tata Play has the highest market share with 33.23 percent

IPO Watch: There is big news for investors who are investing in IPO. Tata Group company TATA Play is preparing to launch an initial public offering (IPO). This information has been received from market sources. It is worth noting that Tata Sky changed its name to Tata Play at the beginning of this financial year. According to mill information, by the end of this month, the company can file a draft prospectus for its initial public offering with the market regulator SEBI.

How big will the size of the IPO be

According to the information received, the size of the IPO of Tata Play can be $ 300-400 million. It is worth noting that the company was preparing to launch an IPO only last year. It was widely discussed in the market but later it was shelved as the company started the rebranding exercise. This was followed by market volatility at the beginning of the fiscal year due to the Russia-Ukraine war. So the company went ahead with the plan to bring the IPO. Now after returning to the market, the company is once again preparing to bring IPO.

was started in joint venture

It is noteworthy that Tata Sky commenced operations in 2004 as an 80:20 joint venture between Tata Sons and Network Digital Distribution Services FZ-LLC (NDDS). The NDDSA is a Rupert Murdoch-owned unit of 21st Century Fox. Disney acquired Fox in 2019. Disney holds another 9.8% stake in Tata Sky through TS Investments Ltd. Tata Sons holds 41.49% stake in the company. Tata Play has the highest market share with 33.23 per cent. It is followed by Bharti Telemedia, Dish TV and Sun Direct TV. Tata Play registered a marginal increase in its revenue from operations in FY12 to Rs 4,741 crore from revenue of Rs 4,682 crore in FY11. However, profit remained stagnant at Rs 68.60 crore in FY22 as compared to profit of Rs 68.75 in the previous fiscal.

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