Asianet Satellite Communications IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 31, 2023In the given below article, we will be talking about Asianet Satellite Communications IPO, its prospective release date, IPO price, subscription status, allotment status, grey market premium, and other details like the company’s background, its financial position, its promoters, and other related things.
The company has a very wide reach in Kerala, and in most of the households it has ensured its presence. It is one of the pioneers of internet services provider (ISP) in Kerala.
Asianet Satellite Communications IPO Review will be your guide to whether you should add this IPO to your bucket or not. So, keep reading and we will pay the way for you.
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Rs.465 Crore |
| Fresh Issue | Rs.300 Crore |
| IPO Size | Rs.765 Crore |
| Tick Size | 1 |
Asianet Satellite Communications IPO Overview
Kerala based Internet Service Provider (ISP), Asianet Satellite Communications is gearing up to garner funds of Rs.765 crore via a public issue.
The company will be getting listed on the main board stock exchanges post IPO.
With the IPO, Asianet will be offering shares worth Rs.300 crores through a fresh issue and equity shares worth Rs.465 crore by an Offer for Sale.
Asianet Satellite Communications IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
The company has filed the Draft Red Herring Prospectus in December 2021 with the capital market regulator SEBI in order to obtain its approval and set in motion the further procedure of launching its IPO in the market.
It is a leading entity in the state of Kerala, along with some presence in other states. After the approval from the authority, the company will reveal the IPO dates and will float the proposed IPO soon.
Asianet Satellite Communications IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Offer for Sale | Rs.465 Crore |
| Fresh Issue | Rs.300 Crore |
| IPO Size | Rs.765 Crore |
Asianet Satellite Communications IPO Size is of about Rs. 765 crores. The IPO Price is not determined yet.
The Rs 300 crore fresh issue and Rs 465 crore offer for sale will make an entrance to the market soon. The face value of the shares is Rs. 10 each.
In the IPO, one of the Promoter Group member, Hathway Investments Private Limited will be offloading their shares with the Offer for Sale and will receive the proceeds in this respect.
Asianet Satellite Communications IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
The Grey market Premium is closely observed by the investors and industry experts to estimate how the IPO will react and the price at which the shares in the IPO will be listed on the stock exchange.
The success of an IPO substantially depends on its GMP and impact its performance on the stock exchange directly.
Asianet Satellite Communications IPO GMP is not available. The company is right now awaiting for the approval from SEBI.
Asianet Satellite Communications IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
Asianet Satellite Communications IPO Subscription will be open after the IPO is made live for the public.
The subscription will take place after the IPO will go live for the public. For this IPO, the reservation for allotment will be in the following manner – for QIBs, not more than 50% of the offer will be available for allocation, for Non-Institutional bidder, not less than 15% of the offer will be reserved for allocation and further for the Retail Individual Investors, not less than 35% of the offer will be available for allocation.
The bidders will be able to place their bids via ASBA process or UPI. Only Retail Individual bidders can place bids through UPI.
The Lead Managers of the issue are:
- Axis Capital Limited
- Nomura Financial Advisory and Securities (India) Private Limited
The details in respect of the price band and subscription will be made available in a short time.
Asianet Satellite Communications IPO Allotment Status
The basis of allotment for Asianet Satellite Communications IPO will be determined by the issuer company after consultation with its respective Lead managers for the issue.
Asianet Satellite Communications IPO Allotment will take place after the company has received bids from the investors and will decide it based on the demand and other essential factors.
The lead manager to the issue is Axis Capital Limited and Nomura Financial Advisory and Securities (India) Private Limited.
Registrar to this issue is Link Intime India Private Limited.
Asianet Satellite Communications IPO Live Performance
To check Asianet Satellite Communications IPO performance on the stock exchange, click on the click shown below. You will be able to check the prevalent Asianet Satellite Communications IPO Price.
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Asianet Satellite Communications – Company Review
Asianet Satellite Communications set forth the cornerstone of its establishment in September 1992 as a public limited company based in Kerala. When it started,
it was the only company working as the Internet Service Provider (ISP) in the area and with its hard works, it raised its name as a predominant player.
In the year 2021, Asianet Satellite Communications was ranked among the top three fixed-broadband providers in Kerala putting the company in the position as a key ISP player amongst others.
As per reports, Asianet Satellite Communications captured about 19% of the market share in the Kerala market in the year 2021.
Products or Services
Asianet Satellite Communications, a notable entity operating in Kerala widely as an internet service providers (ISP) furnishing the services of broadband internet service and multi-system operator (MSO) and offers digital cable television services. As an internet service providers, it has gained a predominant advantage in the local area and is now attempting to enlarge its scale.
Asianet Satellite Communications Limited is the largest and very first cable network services provider in Kerala. A pioneer in south India, it is one of the top 20 ISPs of India as per TRAI.
Asianet Broadband has set up its own International Satellite Gateways at Thiruvananthapuram and Kochi. It is a part of Asianet Satellite Communications Ltd. only.
Another subsidiary of the company is Asianet Digital Network Pvt. Ltd. and with this subsidiary Asianet Satellite Communications Ltd. is extending its services in Andra Pradesh, Tamilnadu, Maharastra, Madhya Pradesh, Karnataka and Telangana.
Promoters and Holding
The Promoters of Asianet Satellite Communications are:
- Viren rajan raheja
- Akshay Rajan Raheja
One of the member of the Promoter Group, Hathway Investments Private Limited holding 1,70,77,651 equity shares of the company which constitutes about 16.96% of the total capital will be offering their stakes in the IPO to the public.
The management of the company comprises of:
- Viren Rajan Raheja holds the position of Non-Executive Director and Chairman
- Sankaranarayana Gopalan holds the position of Non-Executive Director and Vice-Chairman
- Sreerama Murthy Chaganti holds the position of Managing Director and Chief Executive Officer
- Suresh Pazhempallil Sivaraman Nair holds the position of Executive Director and Chief Financial Officer
- Joseph Conrad Agnelo Dsouza holds the position of Independent Director
- Ankit Rajeev Somani holds the position of Independent Director
- Ravina Vinay Rajpal holds the position of Independent Director
- Praveen Sharma holds the position of Independent Director
Is Asianet Satellite Communications good for Investment?
Asianet is one of the prominent entities as ISP and MSO providers mainly in Kerala. It has established its operations and dominance in the state. It is regarded amongst the top 3 internet service providers in the state.
The company is enlarging its scale of operations and diversifying to other states. It has two subsidiaries which assists the company in running smooth activities and efficiency.
Asianet Satellite Communications Limited IPO will help the entity in making payments towards the debts availed by the company and its subsidiary. Also, the proceeds from the fresh issue will further be utilized towards expansion of its network infrastructure.
Asianet Satellite Communications Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Assets | 6,953.89 | 6,768.68 | 6,719.13 | 6,466.49 |
| Revenue | 2,944.17 | 5,154.56 | 4,565.14 | 4,283.15 |
| Expense | 2,664.76 | 4,733.93 | 4,449.20 | 4,155.13 |
| Profit After Tax | 166.73 | 310.35 | 2.89 | 92.57 |
After evidencing few ups and downs, now Asianet Satellite Communications Limited looks in a tenable state. The profits for the financial year 2019, 2020 and 2021 were Rs. 9.26 crore, Rs. 0.3 crore and Rs. 31.03 crore respectively. The company has also shown an increase in the total revenue from Rs. 450.90 crore in the year 2020 to Rs. 510 crore in the year 2021.
The EPS of Asianet Satellite Communications Limited for the financial year 2021 was Rs. 3.08 which is not very impressive in itself but as compared to the previous years, the company is growing.
| Earnings per Equity Share (in Million) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 1.66 | 3.08 | 0.03 | 0.92 |
Asianet Satellite Communications IPO Review
Kerala headquartered, Asianet Satellite Communications Limited is all set to launch its IPO and has filed its DRHP with the Securities and Exchange Board of India
The company will raise funds worth Rs. 765 crore with the Initial Public Offering.
The company is one of the leading internet service providers offering broadband internet service and multi-system operators offering digital cable television services in Kerala.
As a digital cable television service provider, Asianet Satellite Communications offers 494 channels of which 64 are HD channels on its digital cable platform. Under this, it offers a variety of genres to its audience according to the region and preference of the locals.
After establishing its strong presence in Kerala, the company embarked its operations in states including Telangana, Odisha, Tamil Nadu, Andhra Pradesh, Maharashtra and Karnataka.
Asianet Satellite Communications IPO Details
Here are few more details you need to know before investing in Asianet Satellite Communications IPO –
Asianet Satellite Communications IPO Issue Object
Asianet Satellite Communications has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment/ prepayment, in full or part, of certain borrowings availed of by our Company and our Material Subsidiary, Asianet Digital Network Private Limited;
- Capital expenditure towards continued expansion of our network infrastructure; and
- General corporate purposes.
Asianet Satellite Communications IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the leading ISPs and MSO with significant market share in the fixed line broadband and digital cable television
market in Kerala; - Underpinned by technologically advanced infrastructure and network;
- Well-positioned to capitalize on the growth in the fixed broadband market in India, an attractive market with significant existing unserved demand for fixed broadband services;
- Strong brand identity in the markets we operate;
- Strong financial metrics; and
- Experienced board and management team as well as strong corporate governance.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 3.08 | 14.62 | 21.08 |
| 31-Mar-20 | 0.03 | 0.16 | – |
| Mar-19 | 0.92 | 5.16 | – |
Asianet Satellite Communications IPO Lead Managers
Here are the list of Lead managers –
- Axis Capital Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Asianet Satellite Communications IPO Registrar to offer
Check out the details of registrar here –
Link Intime India Private Limited
C-101, 247 Park
L.B.S. Marg, Vikhroli (West)
Mumbai – 400 083
Maharashtra, India
Tel.: 022-4918 6200
E-mail: asianet.ipo@linkintime.co.in
Investor grievance E-mail: asianet.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Asianet Satellite Communications IPO – Other Details
- Statutory Auditor – B S R & Associates LLP, Chartered Accountants
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – ICICI Bank Limited, HDFC Bank Limited, RBL Bank Limited and The Federal Bank Limited
Asianet Satellite Communications IPO – Conclusion
Asianet Satellite Communications IPO is a prospective opportunity for the company to repay its debts and execute the future expansion plans. They have the advantage of being one of the strongest among their competitors.
The company has tenable expansion plans and has marked its presence in more than 5 states.
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Asianet Satellite Communications IPO Review FAQs
Check out the FAQs on Asianet Satellite Communications IPO –
What is the Issue Size of Asianet Satellite Communications IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Asianet Satellite Communications IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the Asianet Satellite Communications IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Asianet Satellite Communications IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Asianet Satellite Communications IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Asianet Satellite Communications IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Asianet Satellite Communications IPO?
Here are the promoters of this IPO – VIREN RAJAN RAHEJA AND AKSHAY RAJAN RAHEJA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Asianet Satellite Communications IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Asianet Satellite Communications IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Asianet Satellite Communications Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 310.35, 2020 is 2.89, 2019 is 92.57. PAT from Sept 2021 is 166.73.
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