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India’s DEN to raise equity capital

DEN Networks, one of India’s largest MSOs, is looking to raise 5 billion Rupees (about $76 million) in fresh equity to fund expansion.

Local reports suggest that DEN’s board of directors has not ruled out borrowing the cash, but has meanwhile will be making a formal request to India’s Foreign Investment Promotion Board for permission to mount an equity-raising process.

DEN has already received permissions from India’s Ministry of Finance and the Reserve Bank to increase its foreign investment limit up to the 74 per cent permitted amount (and beyond its current 49 per cent status).

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