the closure of the rights issue on 4 October, the promoter holding
in Network18 Media & Investments Ltd has jumped by 51 per cent
from its earlier stake of 48.30 per cent.
This follows the increase in stakes of the six promoter companies
which subscribed to the promoters' entitlement in the rights issue
and also to the rights entitlement unsubscribed by non-promoter
After the rights issue, the shareholding of the six promoter companies
in Network18 has increased to 66.16 per cent from 36.90 per cent.
After including the shareholding of other promoter group holdings,
the total promoter stake in Network18 after the rights issue is
73 per cent.
The six promoter companies are RRB Mediasoft, RB Mediasoft, RB Media
Holdings, Watermark Infratech, Colorful Media and Adventure Marketing.
These promoter companies are owned and controlled by Bahl, founder
of Network18 group, and wife Ritu Kapur.
Network18's subsidiary TV18 Broadcast Ltd operates news channels
CNBC-TV18, CNBC Awaaz, CNBC-TV18 Prime HD, CNN-IBN, IBN7 and IBN-Lokmat
(a Marathi regional news channel in partnership with the Lokmat
group of newspapers).
TV18 also operates a joint venture with Viacom, called Viacom18,
which houses a portfolio of popular entertainment channels - Colors,
Colors HD, MTV, Sonic, Comedy Central, VH1 and Nick - and Viacom18
Motion Pictures, the group's filmed entertainment business.
Network18 offered 307 shares for every 50 shares held by its shareholders
at a price of Rs 30 per share. Its subsidiary TV18's rights issue
of 41 shares for every 11 shares held by its shareholders at a price
of Rs 20 per share closed on 15 October, but the details of the
issue are still not available.
can get 51% of Network18