HMVL IPO gets high grade

Giving a thumbs up to the proposed initial public offer (IPO) of Hindustan Media Ventures Limited, CRISIL Equities has assigned it an IPO grade of “4/5”.

Giving a thumbs up to the proposed initial public offer (IPO) of Hindustan Media Ventures Limited, CRISIL Equities has assigned it an IPO grade of “4/5”.

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Hindustan Media Ventures Limited (HMVL), which publishes the Hindi daily ‘Hindustan’ is a subsidiary of HT Media Ltd, the publisher of Hindustan Times.

HMVL will raise Rs 300 crore through an initial pubic offering to fund its expansion plans. The funds will also be used to augment the printing capacity of the newspaper.