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Sep 18, 2013, 12.55 PM IST | Source: Moneycontrol.com

Den Networks up 8% on I&B min nod for Goldman's investment

Shareholders of the cable TV distribution company on June 5, 2013 had approved issue of shares worth USD 110 million (approximately Rs 600 crore) to Goldman Sachs affiliates on a preferential basis.

Moneycontrol Bureau

Den Networks shares surged more than 8 percent intraday Wednesday after after the ministry of information and broadcasting approved USD 110 million investment of Goldman Sachs in the company.

Shareholders of the cable TV distribution company on June 5, 2013 had approved issue of shares worth USD 110 million (approximately Rs 600 crore) to Goldman Sachs affiliates on a preferential basis.

Broad Street Investments (Singapore) and MBD Bridge Street 2013 Investments (Singapore) are the two affiliates, which will get shares at Rs 217.50 a share on preferential basis.

Also Read - Direct billing to enhance payment collections: Den Networks

At 11:45 hours IST, the stock was trading at Rs 167, up 1.30 percent on the Bombay Stock Exchange.

(Posted by Sunil Shankar Matkar)

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