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Promoted by Mr Sameer Manchanda and Lucid Systems Private Limited, Den Networks is one of the largest national cable television companies in India engaged in the distribution of analog and digital cable television services (Source: MPA Report 2009). Since incorporation in July 2007, it has expanded analog cable services to 77 cities across India.
It currently provides cable television services in the National Capital Region of Delhi and the states of Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala. It has obtained an all-India ISP license and has recently commenced a limited roll out of broadband internet services in select areas, which it intends to expand in all the other cities where it operates.
Two main companies in similar space are citi cable ( wire and wireless ) of zee group and Dish TV.
The company has fixed price band between Rs 195-205 per share.
Two anchor investors namely Emerging India Focus Funds and Indea Capital Private Limited have subscribed for 18,25,020 and 5,70,000 shares at Rs 205 per share.
This company still need to be profitable. Most of the value in for future growth. I think this is another IPO priced very aggresively. Based on market cap of WWIL and Dish TV , and the subscriber base the price should be in range of 130 Rs. Now in order for investor to buy in the should get some discount for investment at 15% of that would put real value of around 120 to this stock.
For long term investor the company is good just the stock is not priced well for investors. I think one should wait for listing and buy from secondary market if the stocks gets below 150 level.