New Delhi: Network18 Media and Investments Ltd said on Thursday that it has sold its stake in Webchutney to advertising agency Dentsu India Group for an undisclosed amount.

Webchutney, which offers web design, promotion and marketing services, has generated a return of over 300% to majority shareholder Capital18, the venture capital arm of the Raghav Bahl-promoted company, according to a Network18 statement.

Dentsu India said it has acquired an 80% stake in Webchutney. “We’re now going to be able to put world-class digital solutions in the centre of our offering to our clients," Rohit Ohri, executive chairman, Dentsu India, said in a separate statement.

Founded by Sidharth Rao and Sudesh Samaria in 1999, Webchutney has brands such as Airtel, Unilever, MasterCard, Coca-Cola, Bacardi Martini, Budweiser, ITC, Marico, Madura Garments and Titan as clients. The digital agency has 200 employees in offices in Delhi, Mumbai and Bangalore.