Business Standard:
Bhaskar Group, a regional media company in India, is valued at Rs 2100 crore ($467 million). It’s a leading regional media brand with flagship products like Hindi daily newspaper, Dainik Bhaskar, and the Gujarati newspaper, Divya Bhaskar. The company also runs English newspaper DNA in partnership with Zee Group.
The valuation is going by the investment by a Mauritius-based fund, Cliffrose Investment. The fund has acquired 7.14 per cent stake in Bhaskar group company, Writers & Publishers Ltd (WPL), for over Rs 150 crore. This deal values the company at Rs 2,100.84 crore. The Foreign Investment Promotion Board (FIPB) has approved the investment. According to the current foreign direct investment rules, FDI is allowed up to 26 per cent in news and current affairs publications through the FIPB route.
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