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MUMBAI: Multi-system operator (MSO) DEN Networks has become a major shareholder in Macro Commerce,the TV home shopping joint venture (JV) with Jasper Infotech, the company that owns and operates e-commerce platform Snapdeal.
DEN has bought 32.87% from Jasper Infotech to take its total holding in Macro Commerce to 82.87%. The JV owns and operates TV home shopping channel DEN Snapdeal TV Shop.
The cost of acquisition is Rs 6 crore (Rs 60 million), which includes purchase of shares for Rs 1 crore (Rs 10 million) and subscription by way of rights issue for Rs 5 crore (Rs 50 million).
“DEN Networks has entered into an agreement with Jasper Infotech Pvt Ltd for increasing equity stake of the company in Macro Commerce. The increase in equity stake includes by way of subscribing and purchasing equity shares in Macro,” the company said.
The MSO has increased its equity for controlling stake,expansion of business and effective management of operations of the TV home shopping business.
DEN acquires 32.87% to become major owner of TV home shopping JV with Snapdeal | TelevisionPost.com
DEN has bought 32.87% from Jasper Infotech to take its total holding in Macro Commerce to 82.87%. The JV owns and operates TV home shopping channel DEN Snapdeal TV Shop.
The cost of acquisition is Rs 6 crore (Rs 60 million), which includes purchase of shares for Rs 1 crore (Rs 10 million) and subscription by way of rights issue for Rs 5 crore (Rs 50 million).
“DEN Networks has entered into an agreement with Jasper Infotech Pvt Ltd for increasing equity stake of the company in Macro Commerce. The increase in equity stake includes by way of subscribing and purchasing equity shares in Macro,” the company said.
The MSO has increased its equity for controlling stake,expansion of business and effective management of operations of the TV home shopping business.
DEN acquires 32.87% to become major owner of TV home shopping JV with Snapdeal | TelevisionPost.com
