DB Corp, India`s second largest regional newspaper will enter the capital markets today. The company has set a price band of Rs 185-212 a share and hopes to mop up Rs 38.50 billion at the upper price band.

The company has proposed a public issue of 18,175,000 equity shares of Rs 10 each for cash at a price to be decided via 100% book building process. It has filed a draft red herring prospectus (DRHP) for the same. The equity shares of the company will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Citigroup Global Markets India (P), Enam Securities (P) and Kotak Mahindra Capital Company, Karvy Computershare (P) are helping the company in the fund raising process.

The objects of this issue are to raise funds for setting up new publishing units, upgrading existing plant and machinery, enhancing brand image through sales and marketing, reducing existing working capital loans and prepaying existing term loans.

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