Top News

Virtual Marketing (Hungama.com) in talks to sell minority stake

Virtual Marketing India Ltd is reportedly in talks with Merrill Lynch, Lehman Brothers, Kishore Biyani’s Indivision and Standard Chartered Private Equity to sell a minority stake for $40 million (around Rs 170 crore).

Virtual Marketing India Ltd is reportedly in talks with Merrill Lynch, Lehman Brothers, Kishore Biyani’s Indivision and Standard Chartered Private Equity to sell a minority stake for $40 million (around Rs 170 crore).

The funds raised would be used for Hungama’s expansion, reports Business Standard. Virtual Marketing India plans to expand to 70 countries by the end of this year from the current figure of 30. The company’s valuation has been pegged at Rs 800 crore.

Promoted by Neeraj Roy and Rakesh Jhunjhunwala, VMIL owns Hungama.com, BollywoodHungama.com, Hungama Mobile, Gaming Hungama, Hungama Networks and Branding Brands. Apart from the promoters, Anil Ambani-promoted Reliance Capital also holds a minority stake in Virtual Marketing.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close