Blackstone Backed Jagran Prakashan To Raise Funds
Publisher of 'Dainik Jagran', Jagran Prakashan, is set to raise R150 Cr through issue of secured NCDs.
The BSE filing by the company said the fund would be utilized to add to the long term resources and retirement of its high interest bearing short-term debt.
The NCD issue is rated Crisil AA+/Stable and the firm’s short-term rating have a rating of Crisil A1+.
Jagran Prakashan had recently acquired the Madhya Pradesh based Hindi daily - Nai Dunia for an enterprise value of R150 Cr. Nai Dunia has a circulation of 5 lakh copies a day and features among the top 10 most-widely read newspapers in the country, according to the Indian Readership Survey (IRS).
It had earlier bought Mid Day in 2010.
Blackstone had last year invested R225 Cr in Jagran Media Network Investment Pvt. Ltd., the holding company of Jagran Prakashan Ltd.
The company also has interests spanning across print, OOH, activations, mobile and online. It has 9 newspaper titles in 5 different languages, read across 15 states with over 100 editions.
Its flagship daily ‘Dainik Jagran’ is the No.1 among all the Indian publications with an Average Issue Readership (AIR) of 16.42 Mn.
In a similar move, another regional daily – Punjab Kesari Group was planning to raise R150 Cr by stake dilution in the company to strengthen its position in the existing market in April this year.
India Cements was also looking to sell its stake in Jagati Publications, a large media house in South India that owns Sakshi TV and Sakshi Newspaper among other businesses and owned by Y Jagan Mohan Reddy.
Promoters of Amar Ujala group, publishers of a Hindi daily in the Northern region, were on course to buyback existing investor DE Shaw’s stake and resell it.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-04-02 | Nai Dunia - Jagran Prakashan | M&A |
Jagran Prakashan Limited |
- |
| 2010-11-22 | EdServ Softsystems - Dainik Jagran | Private Equity |
Jagran Prakashan Limited |
- |
| 2010-08-04 | Jagran Prakashan - Independent News & Media (Exit) | M&A |
Entity Not Known |
43.25 |
| 2010-05-05 | Mid Day Multimedia - Mid Day Infomedia - Jagran Prakashan | M&A |
Jagran Prakashan Limited |
44.50 |
| 2010-03-09 | Jagran Prakashan-Independent News (Partial Exit) | M&A |
Entity Not Known |
56.00 |
| 2009-07-01 | Jagran Prakashan - | M&A | - | |
| 2006-01-31 | Jagran Prakashan Limited - IPO | IPO / Offerings | 72.90 | |
| 2004-12-31 | Jagran Prakashan - Independent News Services | M&A |
Independent News Services Private Limited |
38.67 |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Jagran Prakashan Limited |
Dhirendra Mohan Gupta Mahendra Mohan Gupta Yogendra Mohan Gupta Sanjay Gupta |
Jagran Building-2, Sarvodaya Nagar |
Deccan Chronicle Holdings Limited Mid-Day Multimedia Limited |
http://www.jplcorp.in |
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