Thakur
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Private equity company WestBridge Crossover Fund has picked up a 5.2 per cent stake in Videocon d2h for $36.27 million.
In a disclosure to the US Securities and Exchange Commission (SEC), the Mauritius basedWestBridge said that it owned 5,445,311 ADS (American Depositary Shares) of the company’s stock.
The WestBridge Crossover Fund was launched four years back by WestBridge Capital co-founder and CEO Sumir Chadha and KP Balaraj, along with Sandeep Singhal and SK Jain. Between 2014 and 2015, WestBridge Capital raised a total sum of $900 million in two tranches ($575 million and $325 million) with an aim to back Indian companies and this investment in Videocon d2h is a step towards that.
Some of the companies that the PE firm has invested in are SKS Microfinance, Dr Lal Pathlabs and Just Dial.
Videocon d2h, which operates in India and is listed on the NASDAQ, recently reported a 21.6 per cent increase in YoY revenue to Rs 731.49 crore in Q3-2016. Additionally, the company also added 6.7 lakh gross subscribers and 4.3 lakh net subscribers during the quarter.
http://www.indiantelevision.com/dth/dth-operator/westbridge-crossover-fund-picks-up-52-stake-in-videocon-d2h-for-36-million-160205
In a disclosure to the US Securities and Exchange Commission (SEC), the Mauritius basedWestBridge said that it owned 5,445,311 ADS (American Depositary Shares) of the company’s stock.
The WestBridge Crossover Fund was launched four years back by WestBridge Capital co-founder and CEO Sumir Chadha and KP Balaraj, along with Sandeep Singhal and SK Jain. Between 2014 and 2015, WestBridge Capital raised a total sum of $900 million in two tranches ($575 million and $325 million) with an aim to back Indian companies and this investment in Videocon d2h is a step towards that.
Some of the companies that the PE firm has invested in are SKS Microfinance, Dr Lal Pathlabs and Just Dial.
Videocon d2h, which operates in India and is listed on the NASDAQ, recently reported a 21.6 per cent increase in YoY revenue to Rs 731.49 crore in Q3-2016. Additionally, the company also added 6.7 lakh gross subscribers and 4.3 lakh net subscribers during the quarter.
http://www.indiantelevision.com/dth/dth-operator/westbridge-crossover-fund-picks-up-52-stake-in-videocon-d2h-for-36-million-160205
