Delhi based Images Multimedia group has received a clearance from the Foreign Investment Promotion Board for bringing in a foreign direct investment (FDI) of Rs. 33.37 crore, for a dilution of 26 percent stake in their publications business. The Images group primarily owns specialty publications and portals around Fashion and Retail.
They have industry-specific portals like Indiaretailing.com (which they had launched last year), Imagesfashion.com, ImagesRetail.com, as well as specialty publications Images BOF (Business of Fashion), Images Retail, Images Fashion & Life (FNL), among others. The group also has a website Msutras.com for ther mens magazine M). They’re also the group behind events like the Lycra Images Fashion Awards, the Images Fashion forum and the India Retail Forum. There’s nothing on which foreign investor is investing in Images Multimedia is raising this funding from, and we’re trying to find out.
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