Date:19/4/11,
Private Equity,
Future Ventures is picking up a little over 26% stake in edutainment media firm Amar Chitra Katha Pvt Ltd (ACK) for INR 375 million, valuing the firm at INR 1.4 billion ($ 32 million). Future Ventures, which is in the process of its maiden public issue, led this round of funding which has also seen participation from the existing investor, the AIM-listed India focused private equity firm Elephant Capital.
Future Ventures is buying around 0.12 million shares through two tranches of INR150 milllion and INR 225 million. It has already picked up 13.65% stake that has got diluted to 12.79% with issue to other investors, and has subsequently struck a deal to acquire further shares at the same price of INR 3,063 per share of ACK, subject to certain conditions before June 30, according to its disclosures in the documents filed with market regulator for its public issue.
Private Equity,
Future Ventures is picking up a little over 26% stake in edutainment media firm Amar Chitra Katha Pvt Ltd (ACK) for INR 375 million, valuing the firm at INR 1.4 billion ($ 32 million). Future Ventures, which is in the process of its maiden public issue, led this round of funding which has also seen participation from the existing investor, the AIM-listed India focused private equity firm Elephant Capital.
Future Ventures is buying around 0.12 million shares through two tranches of INR150 milllion and INR 225 million. It has already picked up 13.65% stake that has got diluted to 12.79% with issue to other investors, and has subsequently struck a deal to acquire further shares at the same price of INR 3,063 per share of ACK, subject to certain conditions before June 30, according to its disclosures in the documents filed with market regulator for its public issue.
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