New Delhi: Direct to home service provider Videocon d2h is likely to go ahead with its proposed public float (IPO) plan this financial year, according to a top company official.
The company had received the permission from market regulator Sebi in March 2013 for its proposed Rs. 700-crore IPO but did not launch the same due to bad market conditions.
“We are engaged with our advisors and investment bankers. We have appointed Axis Capital among others to advise us on the same. We are planning the IPO this financial year itself,” Videocon director Saurabh Dhoot told PTI in Mumbai on Thursday.
The satellite TV arm of the diversified Videocon group on Thursday formally announced the change of its name from Bharat Business Channel to Videocon d2h. Dhoot said the rechristening will not have any impact on the IPO.
The company also unveiled its 4K ultra high definition services which it will roll out over next three quarters, he said. The company expects an uptick in the sales of 4K or UHD panels in the festive season and it would be targeting its existing customer base.
“It would begin with important sports events which would be enabled by the 4K feed. So we are well prepared to launch that service for our customers. Then we would have movies and general entertainment,” he said.
The company caters to 11 million customers and has been growing at 40 percent CAGR, Dhoot said. Company chief executive Anil Khera said it would be a premium service and the 4K Ultra HD box would cost Rs. 10,000.