Tata Play Pre-Files Confidential Papers For IPO
The company is filing for a confidential IPO under Chapter II-A of the SEBI ICDR regulations.
Tata Play Ltd., formerly known as Tata Sky, is the first company in India to pre-file confidential papers for an initial public offering.
The company, which is a joint venture between Tata Sons Pvt. and TFCF Corp., which was formerly known as Twenty-First Century Fox Inc. was incorporated in 2001.
On Nov. 30, the company announced in a newspaper that it had filed for a confidential IPO under Chapter II-A of the SEBI ICDR regulations.
The filing of the pre-filed draft red herring prospectus "does not necessarily mean that the company will undertake the initial public offering", the company said.
The company's spokesperson didn't clarify the amount that they are looking to raise.
The company also said the public announcement is not an offer of securities for sale in the U.S. or elsewhere, since it is a joint venture with an American company.
Tata Play was one of the first D2H operators, beaming channels to households under the Tata Sky brand.
The company currently has a pan-India footprint of about 2.3 crore connections, its spokesperson said.
Companies can use this "confidential" route to file documents with SEBI and stock exchanges without making them public during an initial review period.
In October, SEBI approved the pre-filing route as an alternative way for IPOs on the main board of stock exchanges.