DB Corp. Ltd, publisher of Dainik Bhaskar, has received government approvals to raise foreign investment to the permissible limit of 26% ahead of a proposed public offering of shares, reports Business Standard. Warburg Pincus, through affiliate Cliffrose Investment Ltd, holds a 7.14% stake in DB Corp. The company’s FM radio broadcasting unit, Synergy Media, will also be able to raise foreign investment to 17.9%, BS reported. Cliffrose holds a 7.12% stake in Synergy Media.
We reported in August about DB Corp’s IPO plans.
UK’s Travel Channel International Ltd has also received approvals to set up a wholly owned Indian subsidiary with initial foreign investment of Rs4.2 crore, the BS story said. TCI is a London-based independent firm that broadcasts travel channel in Europe, West Asia and Africa.

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