Friday, July 15, 2005

Hindustan Times launched in Mumbai

Hindustan Times, the no.1 brand in Delhi made its much-awaited Mumbai debut today with a cover price of Rs 2.50. The newspaper group from Delhi without wasting time has announced the launch of HT’s maiden public issue by August-end in the financial capital of India. HT Media Ltd, the company behind one of the biggest brands of North India, Hindustan Times had filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on April 21. Promoters hold 77.11% of the pre-issue equity share capital in HT Media, while Henderson, according to media reports, has a 15.83% stake (company sources said Henderson has a 17% stake), while Citicorp holds 7.06% of the pre-issue share capital. HT Media is a KK Birla group company. Hindustan Times, meanwhile, is starting a fresh multi media campaign in order to establish its brand with its Mumbai launch. While the outdoor campaign has begun early evening on Wednesday, April 13, the second phase of television campaign will begin today. In addition, the company is also running a contest – ‘HT Seven Lucky offer’. The contest is all about preserving seven out of the first 14 issues of HT, and writing a slogan. The lucky reader could even win a Mercedez Benz car.