Times of India | 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

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 To Acquire Cricket Broadcaster Willow TV

NEW DELHI: Times Internet, the digital venture of the Times of India group, will acquire US-based cricket broadcaster Willow TV International in a USD 100 million (around Rs 673 crore) deal. "Times (Internet) has committed USD 100 million to the purchase of Willow and our primary investment into the business - for rights acquisitions, marketing, and to grow cricket in the US market," Times Internet Director Satyan Gajwani said in a statement. For Times Internet, Willow would complement its own online cricket platform Cricbuzz. "Willow is complimentary to our existing audience and presence with cricbuzz.com, in a market with high-value, affluent consumers with a propensity to pay for content," he added. Named after English willow tree from which cricket bats are made, Willow is ...