Top Story

e4m_logo.png

Home >> Media - TV >> Article

General Atlantic takes 8% in NDTV for Rs 116 crore

16-September-2005
Font Size   16
General Atlantic takes 8% in NDTV for Rs 116 crore

General Atlantic (GA) European Investments, Cyprus, has picked up nearly an 8% stake in broadcasting major NDTV in a block deal from Shyam Cellular Infrastructure Projects for a consideration of just over Rs 116 crore.

GA Investments has bought 48.36 lakh shares of NDTV at around Rs 240 per share at a face value of Rs four each, representing 7.95% of the equity share capital of the company. Considering the above deal, the broadcaster is valued at around Rs 1,450 crore.

Following this transaction, NDTV has applied for amending its FIPB approval to include the new foreign holding. It has a previous approval for 17.1% foreign equity, most of which has been held by Stanchart Private Equity, Mauritius. When Standard Chartered Private Equity took a 14.35% stake in July '03 soon after NDTV turned broadcaster, the equity fund valued it at Rs 369 crore.

The two co-promoters - Prannoy Roy and Radhika Roy - together own around 55% of the company's equity. They had sought to `gift' 15% of holding to their daughter, a foreign citizen. This proposal has been held up by the I&B ministry, it is believed, as this will take the foreign holding in the company to over 26% - beyond the cap allowed for news broadcasters.

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

For their latest campaign ‘Peeoge toh Janoge’ (English translation: you’ll buy it if you taste it), Wagh Bakri and DDB Mudra gave Sakshi a new, rustic avatar.

Dabbawalas send some extra love along with dabbas to working professional across Mumbai

The Diamond Producers Association brings to life another rare moment as part of the ‘Real is Rare. Real is a Diamond' Campaign