Videocon d2h files for IPO to raise up to $113 million

Videocon Group's satellite television arm Videocon d2h has filed for an initial public offering (IPO) to raise up to Rs 7 billion ($113.30 million), according to a filing with capital market regulator Securities and Exchange Board of India (Sebi).

The share sale of the company will be managed by seven banks, including UBS and Axis Capital, ICICI Securities and SBI Capital Markets.

Domestic firms are expected to come up with a raft of equity sales in the coming months on the back of growing demand for stock investments after a landslide election victory for Prime Minister Narendra Modi in May.

(Reuters)