indian-media-company-raises-third-round-of-private-equity

Indian media company raises third round of private equity

Nimbus Communications raises $125 million from 3i, Cisco and Oman Investment Fund.

By Sameera Anand

January 22, 2007

IndiaÆs Nimbus Communications closed its third round of private equity raising securing Rs5.5 billion approx $125 million from 3i, Cisco and Oman Investment Fund. This is 3iÆs second investment in Nimbus, Oman InvestmentÆs first India deal and NimbusÆ largest PE funding to date. Investors will buy compulsorily convertible bonds that will convert into equity, based on a pre-set formula, prior to an IPO or trade sale.

Harish Thawani, executive chairman of Nimbus Communications, says ôNimbusÆ consistent year-on-year hyper growth, depth of management and aggressive expansion plans were key to attracting the highest quality investors to our third round of private equity investment.ö

NimbusÆ lines of business are sports, television, motion pictures and digital content. It...

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