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| Home / India News / 2008 / January / January 25, 2008 Rajat Sharma Takes Enterprise Value To Rs 500 crore |
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New Delhi, Delhi, India
This one's for the Big Boys. Rajat Sharma has announced a big-time strategic investment of Rs 100 crore in Independent News Service Private Limited (INS), the holding company of India TV.
The investment has taken Rajat Sharma-led INS's enterprise valuation to Rs 500 crore, up a whopping 86 per cent from Rs 270 crore in just 9 months.
The Rs 100-crore investment for a 20 per cent stake in INS has been made by Shyam Equities Private Limited, a 100 per cent Indian entity, based in Bangalore. Accordingly, the foreign individual, foreign company, NRI, OCB, FII and PIO holding in INS has remained at earlier levels.
The investment information has been filed with the Ministry of Information and Broadcasting.
When contacted, Mr Sharma noted with satisfaction “the excitement over the strategic growth blue print that will be executed in 2008.” The blue print, he said, includes large investments in key strategic areas beyond India TV. This includes a bouquet of channels, a distribution blitz in key international markets, and a significant entry into non-news and non-television media.
In March last year Fuse+ Media, an entity of ComVentures, a leading Silicon Valley-based venture capital and private equity group with over $1.5 billion of assets under management, had placed an equivalent of Rs 50.9 crore of FDI in INS for a 19.17 per cent stake, taking INS's enterprise value to Rs 270 crore.
About Independent News Service Private Limited (INS):
INS was co-founded by Rajat Sharma and Ritu Dhawan in 1998. Mr Sharma edited important publications before entering television in 1992 with the iconic ‘Aap Ki Adalat' and India's first private news bulletin.
With 20 years of work behind her, Ms Dhawan is one of India's seniormost television producers.
INS launched India TV in August 2004. Today it has a talent pool of 400+ personnel. As per TAM, India TV is a leader, on the Elite Panel and in the C&S Hindi news market in terms of shares, TVRs, time spends and audience reverts
Source: India TV (Business Wire India)
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