Nimbus Looking To Dilute Equity To Fund Growth Plans Says CEO
By Nikhil Pahwa - Wed 06 Feb 2008 09:01 PM PST
Nimbus Communications plans to dilute equity to raise around $100 million to fund its growth plans: the company had recently appointed Digvijay Singh as CEO. The ET report mentions, quoting sources, that Nimbus is in talks with a Singapore based media company, Ashmore, Providence Fund and JM Financial’s private equity arm, and might also be considering an IPO (isn’t everyone?). Singh denied that existing private equity shareholders 3i, Cisco (NSDQ: CSCO) and Oman International are looking to exit, something which ET had reported last year.
Nimbus owns the rights to BCCI owned cricket in India till 2010, and had webcast the India-Australia One Day International series. The company had also acquired Internet and mobile rights for the English Premier League (EPL) for over 80 countries till 2010, covering 1140 EPL matches.
Posted in: Companies, Nimbus, Sports, TV, Venture Capital
