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.