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Private equity investor WestBridge CXrossover Fund has acquired a 5.2 per cent stake in Mumbai’s (but Nasdaq-listed) digital broadcaster Videocon d2h.
WestBridge announced in a disclosure to the US Securities and Exchange Commission that it owned 5,445,311 shares of Videocon d2h, the direct-to-home (DTH) arm of Videocon Group. The deal pushed up shares of Videocon d2h, which rose 3.10 per cent during trading on Thursday, hitting a price of $6.666 per share.
The company’s market cap stands at $692.57 million. As of December 31st 2015, Videocon d2h has 11.27 million net subscribers.
Last January Silver Eagle Acquisition, a media investment fund managed by Harry Evans Sloan and Jeff Sagansky acquired about 35 per cent of Videocon d2h in a deal valued at the time at $300 million -$375 million.