As per media reports, the leading high-speed Internet over fibre optic cables and high-definition television player Atria Convergence Technologies (ACT) may soon issue an IPO to raise Rs. 1500-2000 Crore. It has also hired investment banks for the job.
ACT claims to reach nearly 1.5 million customers in 5 states and 12 cities in India, and uses the latest in optical fiber technology to offer among the highest connectivity speeds in India.
The proposed IPO may be a mix of fresh fundraising and stake sales by both the existing private equity investors TA Associates and True North. The media report further said that the IPO is likely to see a dilution of 25% stake at a $1 billion.
As a matter of fact, in 2015, TA Associates and True North had acquired a majority stake in Atria for $500 million from India Value Fund III. TA and True North held 93% stake in ACT, as of 31 March 2017.
Source: http://cablequest.org/index.php/news/broadband-and-iptv-news/item/12184-act-to-issue-ipo-to-raise-rs-1500-2000-cr
The proposed IPO may be a mix of fresh fundraising and stake sales by both the existing private equity investors TA Associates and True North. The media report further said that the IPO is likely to see a dilution of 25% stake at a $1 billion.
As a matter of fact, in 2015, TA Associates and True North had acquired a majority stake in Atria for $500 million from India Value Fund III. TA and True North held 93% stake in ACT, as of 31 March 2017.
Source: http://cablequest.org/index.php/news/broadband-and-iptv-news/item/12184-act-to-issue-ipo-to-raise-rs-1500-2000-cr
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