DB Corp fixes IPO price band at Rs 185-212 per share

Media major DB Corp has fixed the price band of its initial public offer at Rs 185-212 a piece which will hit the market on December 11. The IPO will close on December 15, said DB Corp. At the upper band of price range, the company expects to garner about Rs 385.31 crore. The firm, which publishes newspapers in three languages — Hindi, Gujarati and English — is coming out with an IPO with the issue size of 1.81 crore equity shares. The IPO proceeds would be utilised for expanding the company's presence in new markets and repayment of debts. The company may consider participation by the anchor investors, it said. DB Corp, which has presence in 11 states, plans to expand into new markets in the next two years and would focus on small cities and towns. Shares offered through the IPO are proposed to be listed on NSE and BSE. Enam Securities, Citigroup Global Markets India and Kotak Mahindra Capital are book running lead mangers to the issue.