wordpress blog stats
Connect with us

Hi, what are you looking for?

Goldman Sachs puts $21M in Den Networks for 6.7% stake

The Goldman Sachs Group has picked up an additional 6.7% stake of 1.58 crore (1,58,26,039) equity shares in Den Networks. Goldman Sachs will now have a 24.49% in the company, and the additional stake will give Den Rs 142.43 crore ($21.26 million). The promoter group’s stake in Den will be reduced to 37%. Goldman Sachs had picked up a 17.8% stake in the company for Rs 689 crore in 2013. Its stake in Den Networks is held through affiliates Broad Street Investments (Singapore) Pte Ltd and MBD Bridge Street 2013 Investments (Singapore) Pte Ltd. Den Networks will use the funds for its broadband business and reduce its debt. In November last year, the cable TV distributor and multi system operator filed an application with the Foreign Investment Promotion Board (FIPB) to modify the approval to include the primary market route as well, which could include issuing long term securities to include equity, quasi equity, GDR, QIP, FCCB, preferential allotment, bonds etc subject to shareholder approval and other laws. At the quarter ended September 2015, FPIs held 22.79% stake in the company, while the promoter’s stake was 40.05%. In July 2015, the company received clearance from the FIPB to increase its foreign investment limit from its then 49% to 74%, which had been deferred in June 2015. Snapdeal-Den shopping TV channel In January last year, Snapdeal and Den launched a new TV shopping channel known as “Den Snapdeal TV Shop”. This was essentially an extension of the pilot announced in September…

Please subscribe/login to read the full story.
Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

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

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ