Videocon surges over 9% on d2h IPO reports

MUMBAI: Shares of Videocon Industries surged over 9 per cent in trade following reports that the company is likely to launch its d2h initial public offer in FY15.

"We are engaged with our advisors and investment bankers. We have appointed Axis Capital among others to advise us on the same. We are planning the IPO this financial year itself," Videocon director Saurabh Dhoot told PTI.

The company had received the permission from market regulator Sebi in March 2013 for its proposed Rs 700-crore IPO but did not launch the same due to bad market conditions.

At 02:15 p.m; the stock was at Rs 198.05, up 6.48 per cent, on the BSE. It touched a high of Rs 203.50 and a low of Rs 189.60 in trade today. Over 5.9 lakh shares were traded in the counter against two-week average of 91,000 shares.