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India’s Videocon d2h considers local IPO

Indian DTH broadcaster Videocon d2h already has a stock market listing, on New York’s NASDAQ, but executive chairman Saurabh Dhoot told analysts that its board of directors would “look at all aspects such as an Indian listing, aspects around buyback, and things like that.”

Videocon d2h mounted its US IPO in April 2015, although had earlier filed a similar prospectus in India which it later withdrew.

However, the stock has been under pressure these past few months. Back in July last year the stock was hovering at around $13 a share. That value has since plummeted to barely $6.

Asked why the price had suffered so much Dhoot said: “As a company, we focus on the fundamental growth of the business, and that has been stellar. We cannot be overtly driven by short-term technicalities or global macro issues. What we can do is definitely market and talk about the company and meet investors, do road shows, encourage research analysts, and look at various other options. Of course, we will take all possible measures to deliver value to our shareholders.”

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