wordpress blog stats
Connect with us

Hi, what are you looking for?

Valuation Woes Delay Reliance Entertainment-Soros $100 Million Deal: Report

Well, this is BIG news indeed: it appears that Reliance Entertainment’s fund-raising and valuation-building efforts have hit a road block. ET reports that though the deal isn’t done yet, though it hasn’t fallen through either: term sheets were signed in March, but valuation and “other issues” are holding back investment. Both Reliance and Soros’ representatives have declined to comment. More details on why the deal is not yet done at ET. We’re trying to contact Reliance Entertainment President Rajesh Sawhney for a confirmation.

Readers will remember that Reliance Entertainment had announced an investment of $100 million for just a 3 percent stake, valuing the company at around $3 Billion. Note that Reliance Entertainment comprises of BIG Movies, BIG Music, and digital ventures BIG Animation, Zapak (online gaming), Jump Games (mobile gaming), BIG Flix (online streaming, offline video rental) and BIG Adda (social networking). Of these, substantial investment plans have been announced for Zapak and BigAdda, and JumpGames has paid, reportedly, over $50 million for its deal with Manchester United.

Do note that Soros was among the seven investors who put in $14 Billion Rs. 14 Billion in Reliance Telecom Infrastructure Ltd.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...


Tips Music has signed a global licensing deal with Facebook, the label announced in a press release on December 28. Essentially, this will allow...


Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...


The Securities and Exchange Board of India (SEBI) will now allow investors to make UPI payments to purchase public issues of debt securities, it...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ