Media conglomerate Network 18 on Thursday said that Hong Kong-based hedge fund OCP Asia will invest USD 15 million in its e-retailing firm HomeShop18. Network18 will also invest a similar amount in the company.
The OCP Asia deal values HomeShop18 at USD 330 million (about Rs 1,799 crore).
Network 18 will continue to hold majority stake in HomeShop18.
HomeShop18 launched India's first 24 hour home shopping TV channel in 2008. It has a customer base of about 6.1 million and a portfolio of over 12 million products with a logistical reach to over 3,000 locations across the country.
OCP Asia is one of the top 25 hedge fund managers in Asia as per the Asia Hedge Fund 25 Ranking published by Institutional Investor.
Disclaimer: Moneycontrol.com is part of the Network 18 Group.
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