Asianet Satellite Communications Limited a Kerala based company has filed its draft red herring prospectus (DRHP) with SEBI for ₹765 Cr initial public offering. The IPO will have a fresh issue of equity shares aggregating up to ₹300 Cr, and an offer for sale (OFS) of up to ₹465 Cr by Hathway Investments Private Limited, as per the DRHP.
Asianet ipo Asianet Satellite Communications Limited founded in the year 1992 is a Kerala-based company and has its operations in Karnataka, Tamil Nadu, Odisha, Andhra Pradesh, Telangana, and Maharastra. Asianet Satellite communications are one of the leading internet service providers (ISP) providing broadband internet service and multi-system operator (MSO).
Asianet Satellite Communications Limited
Asianet Broadband with Class-A ISP license provides Broadband Internet service over optic fiber cable using GPON technology to over 3.6 lakhs subscribers including 2.81 lakhs primary subscribers directly and 0.82 lakhs secondary subscribers under the brand name, Asianet Broadband.
The company uses Internet service with DOCSIS technology. The company has then adopted GPON technology with optic fiber cable from 2014 onwards offering subscribers larger data plans and higher speeds. Asianet Broadband offers Internet Plans for individual subscribers for the household segment and also for Government offices, Small and Medium Enterprises, and Corporate organizations.
Asianet Digital Network Pvt Ltd
- To have a healthy environment for customers to experience the best quality entertainment and connectivity at home.
Asianet IPO Objective
- Rs 160 crore will be for payment of loans availed from lenders.
- For funding working capital and general corporate purposes.
- Viren Rajan Raheja.
- Akshay Rajan Raheja.
Asianet Satellite has recorded significant growth in profit at ₹31 Cr for Fiscal Year 2021, compared to ₹0.29 Cr in 2020. Revenue from operations also jumped to ₹510 Cr from ₹450 Cr.
Profit till September 2021 stood at ₹16.67 Cr for six months on revenue of ₹291 Cr. COVID-19 pandemic factors such as work from home, learn from home, entertainment, and e-commerce has helped the company grow swiftly and steadily in its broadband business.
Book Running Lead Managers
- Axis Capital Limited.
- Nomura Financial Advisory and Securities (India).
Asianet IPO Registrar is Link InTime India Private Limited.