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Business News/ Industry / Retail/  HomeShop18 raises 163 crore in third round of funding
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HomeShop18 raises ₹163 crore in third round of funding

The current transaction values HomeShop18 at $330 million

Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake. Photo: Mint (Mint)Premium
Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake. Photo: Mint
(Mint)

New Delhi: E-commerce company HomeShop18, operated by Network18, has raised a total of $30 million (around 163 crore) from hedge fund OCP Asia, and Network18. OCP and Network18 contributed $15 million each, the company said in a statement on Thursday.

This is HomeShop18’s third round of funding. In 2008, it raised $16 million from SAIF Partners and an additional $5 million from Capital18. In the following year, South Korea’s GS Shopping paid $18.5 million for a 15% stake in the company.

The current transaction values HomeShop18 at $330 million. Network18 will remain the majority shareholder in HomeShop18. OCP Asia’s owns a 10% stake.

“We will channelize these funds in increasing both the IT as well as logistics infrastructure as well as active consumer engagement," said Sundeep Malhotra, chief executive, HomeShop18. Started in 2008, HomeShop18 launched India’s first 24-hour home shopping television channel. In 2011, it ventured into e-commerce.

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ABOUT THE AUTHOR
Suneera Tandon
Suneera Tandon is a New Delhi based reporter covering consumer goods for Mint. Suneera reports on fast moving consumer goods makers, retailers as well as other consumer-facing businesses such as restaurants and malls. She is deeply interested in what consumers across urban and rural India buy, wear and eat. Suneera holds a masters degree in English Literature from the University of Delhi.
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Published: 13 Apr 2013, 12:45 AM IST
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