<http://www.dealcurry.com/2010068-FIIs-And-Others-May-Acquire-26-in-HT-Media-Ventures-For-Rs-350-Cr.htm>
Foreign institutional investors, non-resident Indians and foreign venture capital investors (FVCIs) may acquire 26% stake in *Hindustan Media Ventures Ltd (HTMVL)* for Rs.350 Cr. The capital infusion may require foreign investment promotion board (FIPB) approval. The funds would be utilized for its expansion plans in its existing market in Uttar Pradesh, Bihar, Uttarakhand, Jharkhand and the national capital region (NCR) and also to enter new markets like Rajashthan and Madhya Pradesh. The company is also planning its IPO in few months and had recently filed DRHP with SEBI to raise around Rs 300 Cr. Incorporated in 1918, HTMVL is the Hindi arm of *HT Media,* the publisher of leading Hindi daily Hindustan Times. It publishes the Hindi newspaper, two Hindi magazines - *Nandan* and *Kadambini* and operates its own website and e-paper services. HTMVL reported a turnover of Rs.51.3 Cr for nine months ending December 2009 with profit after tax of Rs.3.5 Cr for the same period. In 2009, HTMVL parent arm Hindustan Media demerged its Hindi business into HTVML. HT Media owns 99.3% of Hindustan Media Ventures. Recently *Jagran Media Network (JMN)* was to receive Rs.225 Cr from *Blackstone GPV Capital Partners*, but is waiting FIPB approval. JMN is also planning to make an application with the Reserve Bank of India for being registered as a non-banking finance corporation. Few months back, Jupiter media & Entertainment Ventures bought 26% stake in *Express Publications (Madurai) Ltd*.at about Rs. 250 crore ($55 mn). -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
