BCCL | Pixr8 News

8May By Sheldan RungasamyNo Comments

FUNDING

Times Group Raises Debt Funding of $75 Million

Bennett Coleman and Company Limited, the media group that owns The Times Group recently raised a funds worth INR 500 Cr ($ 75M) in a non-convertible debenture-funding round with the participation of a string of investors. According to Investopedia, "Nonconvertible debentures are unsecured bonds that cannot be converted to company equity or stock. Nonconvertible debentures usually have higher interest rates than convertible debentures." The media group issued unsecured, unlisted, rated, redeemable, non-convertible debentures for a period of 3 years with a coupon rate of 7.48% per year and paid annually. The lenders participating in this debt funding round are ICICI Lombard General Insurance with Rs 200 Cr, DSP Blackrock Short Term Fund with Rs 160 Cr, Aditya Birla Sun Life Insuranc...

Times Group Acquires Small Stake in Flipkart For 260 Crore

18Feb By NitishNo Comments

ACQUISITION

Times Group Acquires Small Stake in Flipkart For 260 Crore

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group acquires a small stake in India’s leading e-commerce firm Flipkart. As per the Times of India acquisition strategy, Flipkart’s stake dilution to BCCL is for cash and advertising space in the latter’s media properties. The story was first reported by Mint. Times group made a private investment about Rs 260 crore to buy a warrant for Class B equity shares in Flipkart as per the sourcing documents filed with the Registrar of Companies and from Tofler, a company research platform. The nature of the Flipkart-BCCL transaction is commonly known as a private treaty deal. Rs 26 crore hard cash will be paid instantly to Flipkart, the rest of the amount will be paid when it converts the warrant into equity shares of Flipkart. BCCL...

Times Internet Looks to Join USD 1 Billion Club in next 5 years

8Jan By Press Trust of IndiaNo Comments

News

Times Internet Looks to Join USD 1 Billion Club in next 5 years

Times Internet, the digital product company owned by media conglomerate BCCL, is looking to be a billion dollar firm in the next five years, riding on the back of greater reach and high growth of internet penetration. As part of the strategy, Times Internet will adopt an "aggressive" approach and pursue organic as well as inorganic growth and try to enhance and monetize its reach. "Times Internet would cross Rs 1,000 crore in terms of net revenue during this fiscal and is aiming to become a billion dollar company (revenues) by 2021," Times Internet CEO Gautam Sinha told Pixr8. "Times Internet has a current compounded annual growth rate (CAGR) of 46 per cent and expects to increase it to 51 per cent, going forward." Times Internet, according to him, has evolved itself as the biggest...

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

25Oct By AdityaNo Comments

BUSINESS

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

Times Internet, the digital products company owned by media conglomerate BCCL, is eyeing a net revenue of over Rs 1,000 crore during the current financial year. "Over the last four years, we've focused on changing from being a media company to a full stack product and technology company. At this time, both our net revenues and audience reach have grown 3-4 times, which makes us feel positive about the effect of our strategy," Times Internet CEO Gautam Sinha said in a statement. The company has crossed 175 million unique monthly visitors and "is on track to cross Rs 1000 crore in net revenue this fiscal year," it said. The firm owned by Bennett Coleman & Co Ltd (BCCL) runs over 35 digital properties including Timesofindia.com, Cricbuzz, Gaana.com, MagicBricks and MensXP, among...

14Oct By NitishNo Comments

FUNDING

Bengaluru Based IndianMoney.com Raises Funding From Media Conglomerate BCCL

IndianMoney.com, India's largest financial education company promoted by Suvision Holdings Pvt Ltd has raised fresh round of funding from media conglomerate Bennett, Coleman & Co Ltd (BCCL). Commenting on the investment Mr. C S Sudheer, Founder & CEO of IndianMoney.com quoted, "Investment of BCCL is catalytic to make inroads into the unchartered territory. It strengthens our consumer base led by the 360-degree presence of BCCL across the media spectrum. This association will add new wings to the ambition of IndianMoney.com to make India a financially literate country." The company plans to utilize these funds to enhance its reach and acquire new consumers, and launch new personal finance education series to become synonymous with financial education for common man in India. ...

Times Group Will Invest 500 Crores in Flipkart

4Jun By AnkitaNo Comments

News

Times Group Will Invest 500 Crores in Flipkart

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group would like to invest in Flipkart Ltd, India’s largest e-commerce firm. The amount is about Rs.500 crore for small equity. The deal is partly by cash and ads, as per mint report said. As per the report, Flipkart will issue shares to BCCL in return for cash and ads of its media properties such as The Times of India, The Economic Times newspapers and ET Now and Times Now channels for several years. Flipkart and Times Group has not confirmed yet. Theoretically, at Flipkart’s presumed $15 billion valuation, aRs.500 crore deal would translate into a 0.5% stake. If the Flipkart deal goes through, it will boost BCCL’s already strong connections with India’s booming start-up business. BCCL struck a similar deal with online...