A private equity fund, managed by ICICI Venture Funds Management Company Ltd, has sold around 7.6 per cent stake in Infomedia 18 Ltd, a printing and publishing company which is a part of the TV18 Group. The shares were sold by India Advantage Fund II on the BSE for Rs 5.36
The transaction was at Rs 14.06 per share on July 4, when the stock rose to end the day at Rs 15.95. The scrip price remained unchanged on Tuesday.
In May this year, ICICI Venture was allotted 8.88 per cent stake in Infomedia 18 pursuant to the merger of the PE firm’s unit I-Ven Interactive Ltd. The shares were held in a trust post-merger, which was completed in 2009, and were released only in May.
ICICI Venture had acquired Infomedia 18 (then Tata Infomedia) in 2003 from the Tata Group in a leveraged buyout (LBO) and sold it to TV18 Group in 2007. ICICI Venture had sold 40 per cent stake in Infomedia 18 at a valuation of Rs 445 crore.
Last year, Infomedia 18 had sold Glyph International, its publishing content services business, to US-based Cenveo Inc.
Leave Your Comment
4 years ago
Mukesh Ambani-led Reliance Industries Ltd (RIL) made an open offer in three...
3 years ago
Mukesh Ambani-led Reliance Industries Ltd (RIL) has completed the open offer for...
4 years ago
Reliance Industries today said its open offers to acquire a controlling stake in...