Sporadic spurts apart, media firms‘ IPOs made through the book building route between 1999-00 and 2001-2002 have not exactly set the stock exchange ablaze.
Of the seven media IPOs that made their appearance in the period, only one issue - that of Balaji Telefilms is being currently traded above its issue price. Balaji Telefilms tops the list of three gainers among the total of 19 IPOs that came out during the period, registering an appreciation of 269.23 per cent since listing date 22 November, 2000. The stock is being currently traded at Rs 480 compared with the issue price of Rs 130.

For the others, its been an uphill task all the way, with the television and media industries in a churn for over the last one year. Cinevista Communications is currently traded at a 84.08 per cent discount, while Pritish Nandy Communications is being traded at a 77.68 per cent discount. Together, the aggregate loss in terms of investor value has been nearly 30 per cent of total resource mobilisation, say analysts.

How they fare

Source: Business Standard