Hungama’s Parent Looking To Sell Stake To Merrill, Lehman, Among Others
Virtual Marketing India, the parent company of Hungama, is about to get a minority investment of about $40 million (170 crores), and the race is on: firms such as Merrill Lynch, Lehman Brothers, Kishore Biyani’s Indivision and Standard Chartered Private Equity are the multiple suitors in it, this BS story says. VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm…the valuation is around Rs 800 crore, the story says. Anil Ambani-promoted Reliance Capital also holds a minority stake in the company.
Jun 13, 2008 12:50 AM ET
Posted In: Money, M&A & Venture Capital, Venture Capital, Companies, Hungama
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Comments (4)
Jun 15, 2008 10:24 AM
Very interesting.
With the interesting content play on mobile and now expanding aggressively on digital entertainment as well.
After the recent buyouts in Raaga.com, nautanki.tv and alliance with santabanta.com, the company is poised for explosive growth in digital media. Watchout when they tie up with one of the largest mobile operator for ad platform.
Watchout all competitors in digital space. The giant will command valuation upwards of 12B INR (pre-money). This round of fund raising will be a peace of cake as ENAM is the fund manager. The fun will be when the listing will be bigger than ONMobile.
Way to go Mr. Roy.
Take a bow Team Hungama.
Jun 15, 2008 3:59 PM
Hmmm !
This will be fun to watch. I heard about Big Cellebrum IPO sometime back.
Both of these companies keep making lot of public announcements like this one.
If content royalty collection could command such big number, Mauj should also be making big numbers. They have lot of exclusive from many music labels.
Jun 16, 2008 12:34 AM
From the earlier post, it seems like it is no more mobile content play but a digital agency play. Can any one confirm the raaga and santabanta buyout?
I dont think mauj can now be compared with hungama mobile’s content powerhouse at all. I think their top line might be less than hungama’s bottom line. Any thoughts ?
Sep 19, 2008 4:53 AM
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