Foreign Investment Nod For Dainik Bhaskar, UK’s Travel Channel

Dainik Bhaskar

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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