Raj TV plans print foray, to raise funds

Raj Television Network Ltd plans to enter the print media and is open to acquiring a Tamil newspaper, an official told Mint newspaper on Thursday.

The company plans to raise 500 million to 1 billion rupees from private equity firms to build a studio, office complex and for its film production business, the newspaper reported.

Raj Television will look to offer 5-10 percent stake for the fund infusion, the newspaper reported.

“The promotors are willing to go down to 51 percent,” B Sukumaran, adviser, corporate planning and strategy said.

According to data on the BSE, the founders of the company hold 72.48 percent as of June.

“We will see how the stock market performs and then take a call on when we would raise the funds,” he said.

The company is evaluating options on its print entry as certain players operating in the regional space have approached it to sell their business, Sukumaran told the newspaper.

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