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Hindustan Media Ventures Ltd, the Hindi biz subsidiary of the HT Media Ltd, is set to enter the markets with its initial public offer.

HMVL has filed Draft Red Herring Prospectus (DRHP) with the SEBI for its first public issue. With this the Company is reportedly expected to float its IPO in the coming months in order to raise Rs 300 crore of funds. The company has a paid up capital of Rs 7 crore and net worth is estimated to be Rs 150 crore.

HMVL will be utilising the funds raised via the IPO would be utilised for the expansion of the business of the company in new markets as well as facilitate the current operations.

HMVL is the subsidiary of HT Media Ltd which has recently merged the Hindi-publications of the Indian media firm into it. The company publishes the third largest Hindi-daily “Hindustan”, and two Hindi periodicals Nandan and Kadambini. Alongside the Company owns Livehindustan.com, a Hindi news portal that reaches a selective audience.