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Bangalore: DEN Networks is planning to launch $100 million IPO (initial public offering) on October 28, reports CNBC-TV18.As per the DRHP (draft red herring prospectus) filed with SEBI (Securities and Exchange Board of India) in August 2009, the company has planned an IPO of two crore equity shares of Rs.10 each. The net issue would constitute nearly 15 percent of the post issue paid-up capital of the company.

DEN Networks is in the business of distribution of analog and digital cable television services. It currently provides cable television services in the national capital region of Delhi and the states of Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala.Den plans to use funds raised via issue for investing in the development of cable television infrastructure and services; investing in the development of cable broadband infrastructure and services; investing in acquisition of content and broadcasting rights; repaying certain loans availed by the company and funding expenditure for general corporate purposes.

Deutsche Equities India and Antique Capital Markets and Karvy Computershare are the registrar to the issue. For the year ended March 31, 2009, it has reported loss of Rs.13.8 crore and total income of Rs.271.11 crore.