Homsehop18 looking to raise $50M in pre-IPO funding; appoints banker
TV18 Home Shopping Network Ltd, a teleshopping and e-commerce firm of the Network18 Group that runs operations under the Homeshop18 brand, is looking to raise $50 million in pre-IPO funding, sources told VCCircle. The pre-IPO fundraising would be closely watched as it would also provide a valuation hook for the firm at its proposed public issue at a time when PE and VC investors are becoming cautious about the e-commerce sector.
One source privy to the development said that the firm has appointed Citigroup as its banker for the transaction.
When contacted by VCCircle, HomeShop18 replied, “TV18 Home Shopping Network...
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