India’s DEN to raise $160m

Cable giant DEN Networks is to raise $160 million in a share sale. DEN has some 11 million homes in its cable system and is heavily involved in India’s digitisation process.

The cash is being raised via Goldman Sachs’ Singapore office where Broad Street Investments and MBD Bridge Street 2013 Investments will take a total of $110 million.

In addition, DEN is seeking another qualified institutional buyer for another $50 million (at a price of Rup 217.23 per share).

DEN’s current share price is Rup 226.75 on May 6th.

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