Exclusive: Bangalore-based private equity firm Shyam Equities Pvt Ltd is building up a media portfolio. After investing Rs 100 crore in Delhi based India TV (of Rajat Sharma) recently, the fund has invested around Rs 13 crore in Ahmedabad-based public listed firm Sambhaav Media, which publishes Gujarati newspaper. As of Thursday, Sambhaav Media had a market capitalisation of Rs 55 crore.
Shyam Equities (it’s is not related to the Shyam Telecom group based in North India) is picking 10 per cent of pre issue shares of Sambhaav at a premium of Rs 9 per share as against the face value of Re 1. The deal is being done through a preferential allotment. The promoters held about 63 per cent in Sambhaav before this transaction.
Sambhaav began in 1986 under the Bhupat Vadodaria who was its editor and eventually became the Sambhaav Group of Newspapers. In addition to Sambhaav, the group owns ‘Jansatta’ and ’Loksatta’, among other publications. It has also built a presence in OOH (out of home) media.

Posted on 02/29/08, 4:57 PM
in: Deals, Private Equity
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