HMVL On Forbes List
5th September, 2011 - New Delhi, India
Hindustan Media Ventures Limited (HMVL) has been named by Forbes as one of the Best Under A Billion companies in the Asia-Pacific region. It is one of the 35 Indian companies that have found a place on Forbes Asia's list of 200. HMVL, publisher of Hindustan, one of India's leading Hindi language dailies, is the only Indian media company to make the list.
To qualify for the list a company must have annual revenue between $5 million and $1 billion and be publicly traded for at least a year. HMVL has performed exceedingly well this year. The company's primary publication, Hindustan, strongly consolidated its leadership position in Delhi-NCR, Bihar, Jharkhand, UP and Uttarakhand. HMVL's IPO, floated in April of 2010, was very well received by investors. Mr. Amit Chopra, CEO of HMVL, said "being included on this list is a testament to our commitment towards our readers and customers. This honor has bolstered our objective of maintaining the highest standards of journalistic integrity and fast growing into the preferred daily across the Hindi-belt."
Forbes Asia picked companies that best managed through the economic volatility that began in 2008. On average the companies on the list have a 13% debt-to-equity ratio and 67 companies on the list carry no debt at all. India is the number two most represented nation on the list. China and Hong Kong come in first with 65 companies. 2 companies from Pakistan and 4 from Sri Lanka also find their way on the list.
For more information, please contact:
Mr. Rajesh Kumar
Head - Marketing, HMVL
Phone: +91 981-006-1469
Ms. Saudamini Bagai
Manager - Communications
Phone: +91 965-406-0820
Hindustan Jobs launched
On May 8, the Hindi belt saw the launch of Hindustan Jobs. This unique offering is an employment weekly newspaper from Hindustan Media Ventures Limited, the publisher of Hindustan, India's second largest daily. The weekly newspaper has broken new ground by incorporating elements of navigation and selection, a first in the category. Jobs have been clustered according to educational qualifications.
The employment weekly from Hindustan would carry government as well as private jobs and would be circulated across the states of Bihar, Jharkhand, UP, UK and Delhi.
Hindustan Jobs is the latest in the series of innovations launched in the last few months by the publishing house. Successes like the award winning English teaching product - Jaano English, personal finance supplement - Hindustan Money and the women's magazine - Anokhi, have been welcomed by readers.
The launch of Hindustan Jobs follows the re-launch of Hindustan on April 12 earlier this year. The brand had repositioned itself with refreshed content, design and a revamped product portfolio. Currently, the print job information market is dominated by the government-run Employment News and carries only government jobs. The market also has a slew of private players which cater to extremely localized markets.
It addresses a need gap in the market and is a well researched and innovative product offering. The product's unique proposition of providing a one stop, fast, relevant and reliable source of job related information is sure to make it a delight for the consumer.
The search and need for jobs is a big life concern in the Hindi belt. Hindustan Jobs reinforces Hindustan's core proposition - Tarakki ko Chahiye Naya Nazariya by taking employment opportunities to Hindi markets in a new and innovative format.
Editor-in Chief, Shashi Shekhar believes that "Hindustan Jobs is a great innovation in Hindi Journalism. The Hindi belt has a large population of educated youth. Jobs are the need of the hour for them. It is the duty of journalists to serve the demand of society. It is an opportunity to positively influence the lives of people who are seeking opportunities for progress."
Hindustan Jobs is available in a compact format and priced at Rs.7.
Hindustan 2nd largest read daily of the country
In the recently declared readership results (IRS Q4 2010), Hindustan has surged ahead to become the second largest read newspaper in India.
In the past nine months, Hindustan has added 58 lakh readers to its readership base. A bulk of this growth has come from Uttar Pradesh where Hindustan has added 41 lakh readers in this nine month period. Hindustan now has a 30% share of readership in Uttar Pradesh, with a total readership of 1.28 crore in UP. Hindustan continues to maintain its dominant position in Bihar and Jharkhand with 83% and 73% share of total readers.
The gains across all markets clearly demonstrate the growing strength of Hindustan daily. With many of the newer editions yet to reflect in IRS, the growth momentum is likely to be sustained.
HMVL files DRHP with SEBI for proposed public issue
Hindustan Media Ventures Ltd. is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India ("SEBI"). The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the websites of the Book Running Lead Managers at www.edelcap.com and www.kmcc.co.in. Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to the section titled "Risk Factors" of the Draft Red Herring Prospectus for details of the same.
HMVL acquired "Hindi Business"
Hindustan Media Ventures Ltd (HMVL) acquires 'Hindustan', the Hindi daily, "Ravivasariya Hindustan" ; Hindi magazines, 'Nandan' & 'Kadambini', and the internet portals of these publications, from HT Media Limited (HTML), its promoter company. As part of this transaction, all assets, liabilities and employees pertaining to this business of HTML will be transferred to Hindustan Media Ventures Ltd. on a 'slump sale' and 'going concern' basis. The transaction shall be effective from December 1, 2009.
All relevant Intellectual Property Rights and Brands shall be used by Hindustan Media Ventures Ltd. Company on a long-term lease basis.Attached is the press release issued by HTML on this transaction.
INCREASE AND RE-CLASSIFICATION OF AUTHORISED SHARE CAPITAL
During the year under review, the Authorized Share Capital of your Company was increased, as per details given below -
Subsequently, w.e.f. 28th February, 2010, the Authorized Share Capital of your Company of Rs. 87 Crore was re-classified to comprise of 8,70,00,000 (Eight Crore Seventy Lac) Equity Shares of Rs. 10/- each only.
ISSUE OF FRESH CAPITAL
During the year, the paid-up share capital was increased as per following details -