Videocon d2h to raise $300 million via stake sale

06 Jan 2015

Videocon Industries’ arm Videocon d2h, direct-to-home service provider, will raise $300 million by selling a minority stake to Nasdaq-listed Silver Eagle Acquisition Corporation (SEAC) and its shareholders. The company will also get listed on the Nasdaq Stock Exchange.

Videocon d2h was valued at $1.2 billion and SEAC and its shareholders would invest around $300 million for the minority stake.

Based in Mumbai, Videocon d2h is part of the Venugopal Dhoot-led $10-billion Videocon Group, which has interests in diverse areas such as consumer electronics, oil and gas, power, retail and insurance.

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