New Delhi: Rajat Sharma has announced a strategic investment of Rs100 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 Rs500 crore, up 86% from Rs270 crore in nine months.
The Rs 100-crore investment for a 20% stake in INS has been made by Bangalore-based Shyam Equities Pvt Ltd.
When contacted, Sharma said the strategic growth blue print 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 2007 Fuse+Media, an entity of the Silicon Valley-based venture capital and private equity group ComVentures, had placed an equivalent of Rs50.9 crore of FDI in INS for a 19.17% stake.