The IPO of media house DB Corp, the publishers of Dainik Bhaskar, will open on 11 Dec and close on 15 Dec.

The price band has been fixed at Rs 182-212. The company proposes to give Rs 2 as discount for retail investors to the issue price.

At the upper end of the price band the company plans to raise Rs 385 crore.

The company intent to use the proceeds of the issue for expanding and strengthening it markets, launching publication in new markets, upgrading machinery in some centres and repayment of term loans.

DB Corp publishes seven newspapers, 50 newspaper editions and 128 sub-editions in three languages (Hindi, Gujarati and English) across 12 States.

Citigroup Global Markets India, Enam Securities and Kotak Mahindra Capital are the book running lead managers to the issue.