Dainik Bhaskar publishers to raise Rs 385 cr via IPO

DB Corp., publishers of Dainik Bhaskar and Divya Bhaskar, plans to raise about Rs 385 crore through its initial public offering (IPO). The issue opens on December 11 at a price band of Rs 185 - Rs 212.The issue that constitutes about 10% of the fully diluted post-issue capital of the company, will close on December 15. About 7% of the issue will be a fresh offering, while the remaining 3% constitutes an offer for sale by Cliffrose Investment Ltd., an affiliate of private equity firm Warburg Pincus.