Sun TV open to mobile play

Televisionpoint.com Correspondent
Regional broadcaster Sun TV is open to enter the mobile telephone and broadband space. The company in its Offer Document submitted to Securities Exchange Board of India (SEBI) disclosed, "As part of our growth strategy, we may broaden our media presence through other platforms including broadband, mobile and DTH."

Sun TV also added in its risk factors that, "We may face significant challenges in our expansion efforts, including the availability of sufficient capital resources, adequate management attention and other forms of competition."

Note recently, Sun TV has filed the red herring prospectus for its proposed initial public offer. It intends to come out with a fresh equity issue of 68.89 lakh equity shares of Rs. 10 each for cash, to be made entirely through the book-building route. Sun TV hopes to raise Rs. 700-800 crore through the issue.