NDTV's board has approved the sale of its entire stake in NDTV Ethnic Retail Limited (Indianroots.com) to Nameh Hotels & Resorts Private Ltd for Rs 3.6518 per equity share. As per an FY16 filing, the "Number of equity shares outstanding at the year end" were 141,862, a year in which NDTV Ethnic Retail Ltd reported a "Basic and diluted loss per equity share" of Rs 1011.76. This is not to say that more shares shares could not have been issued during FY17 to existing shareholders, but NDTV has not disclosed the total number of shares being bought by Nameh Resorts in its filing. When NDTV had raised $5 million funding from KJS Group back in May 2015, it said that Indianroots' valuation then was $85 million. Note that Kamaljeet Singh Ahluwalia, Chairman of the KJS Group (quoted here), held 8345 shares (around 5.83%) in NDTV Ethnic Retail Ltd by the end of March 2016 (pdf). The deal is expected to be completed in 90 days, subject to shareholder approvals. NDTV Ethnic Retail Ltd was set up on February 28th 2013 as NDTV E-commerce Pvt Ltd, and owned and operates Indianroots.com, which is the NDTV group's first ecommerce site. It targeted a global diaspora with ethnic designer-wear, targeting markets in the US, Australia, UK, Canada and the middle east. Indianroots.com was launched on July 29th 2013, with the former FashionAndYou CEO Rahul Narvekar heading the company. Narvekar had joined NDTV to head its ecommerce business in February 2013. Shareholding changed? Narvekar left the…
