India’s Reliance Broadcast in talks with prospective PE investors
Reliance Broadcast Network is in talks with private equity investors over the sale of INR4 billion ($87 million) in preferential shares. Asheesh Chatterjee, Reliance’s CFO, told The Wall Street Journal that the company hopes to reach agreements by the end of December.
Reliance's founders would maintain their holding in the company - which stands at less than two-thirds - by injecting new capital alongside the preferential allotment. Chatterjee added that the company...
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