| Log in

Goldman Sachs to invest $110M in DEN Networks

06 May, 2013

Cable television company DEN Networks Ltd is raising $110 million (Rs 600 crore) from an arm of Goldman Sachs in what will be the single largest private equity deal in India’s cable & satellite space.

The deal involves Broad Street Investments (Singapore) and MBD Bridge Street 2013 Investments (Singapore), affiliates of Goldman Sachs, picking up shares through preferential allotment in the company.

Though the number of shares to be picked up was not disclosed, VCCircle estimates that the firm would end up with 16-17 per cent stake.The preferential allotment will be at Rs 217.5 per share. Scrip of Sameer Manchanda-promoted DEN Networks closed at Rs 226.75, up 2.14 per cent on the BSE in a strong Mumbai market on Monday.

DEN Networks has been backed by various funds managed by IL&FS Investment Managers.The current round of funding for DEN comes as it has also opened a qualified institutional placement, which could raise up to $50 million.

For Q3FY13, DEN Networks reported 11.9 per cent quarter-on-quarter growth in revenues at Rs 241.8 crore while its net profit was up 12.1 per cent to Rs 18.4 crore.The previous top deal in the cable & satellite sector was when Apollo Global Management invested $100 million in Dish TV in 2009, according to VCCEdge, the data research platform of VCCircle.


Leave Your Comment
Goldman Sachs to invest $21.2 mn more in Den Networks

Goldman Sachs to invest $21.2 mn more in Den Networks

TEAM VCC 1 year ago
Cable television company Den Networks Ltd said on Tuesday it is raising Rs 142...
After Goldman Sachs deal, DEN Networks raises $50M through QIP

After Goldman Sachs deal, DEN Networks raises $50M through QIP

TEAM VCC 4 years ago
After raising funds from Goldman Sachs earlier this week, cable television...
DEN Networks sells another 25% stake in Delhi Dynamos to ship recycling group GMS

DEN Networks sells another 25% stake in Delhi Dynamos to ship recycling group GMS

Ranjani R 10 months ago
Goldman Sachs-backed cable television distribution company, DEN Networks Ltd has...
No Comments

Goldman Sachs to invest $110M in DEN Networks

Powered by WordPress.com VIP