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The initial public offer of the publisher of Hindi daily Hindustan, Hindustan Media Ventures Ltd (HMVL), will begin from July 5, 2010.

The company promoted by HT Media Ltd, recently merged the Hindi publication business of the media firm into it. It houses Hindi daily newspaper ‘Hindustan’, Hindi magazines ‘Nandan’ & ‘Kadambini’ and the internet portals of the respective publications.

HMVL filed for the public issue with SEBI earlier this year, through which the company expects to raise up to Rs 270 crore of funds. The proceeds from the IPO would be later put in use by HMVL for the expansions plans of the company.

The price band of the issue will be decided at least two days prior to the opening of the offer. The IPO is based on 100% book building process. Shares offered through the IPO are proposed to be listed on the bourses, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Edelweiss Capital and Kotak Mahindra Capital Company are the book running lead managers to the issue.

HMVL also received the FIPB approval for its proposal to infuse Rs 350 crores in foreign investment from FIIs and venture capital funds earlier this month. The IPO will close on July 7, 2010.