DB Corporation, the publisher of Dainik Bhaskar newspaper, has decided to launch an IPO on Friday. A total of 18,175,000 shares will be offered, with a face value of Rs. 10 per share.

The company has fixed the price band of the IPO at Rs. 185 to 212 per share. At the higher end of the IPO, the company has expected to get around Rs 385 crore. The IPO has been scheduled to close on 15th December.

DB Corporation has planned to use the funds acquired from this IPO for the accomplishment of a number of tasks including, setting up of new publishing units; upgrading existing plant and machinery; enhancing the brand image through sales and marketing, reducing existing working capital loans and prepaying existing term loans.

The company has informed in a statement that after the launch of this IPO, 10% of the company's stake will be diluted.

The company, which has been engaged in the business of print media, and publishes 7 newspapers, 48 newspaper editions and 128 sub-editions in three languages including, Hindi, Gujarati and English, across 11 states, in the country.

In this IPO, 70% of the total shares to be sold are fresh and the rest of the shares will be offered by Cliffrose Investment Ltd., which is a unit of Warburg Pincus L. L. C.