Goldman to raise stake in Den Networks to 25%: Report

Goldman Sachs is reportedly all set to raise its stake in cable TV service provider Den Networks to 24.9% from 17.79%. The foreign fund house is part of the persons belonging to the non-promoter category.

Den Networks has received its board’s approval to allot 1.58 crore shares of face value of Rs 10 each to Goldman Sachs. The issue price of the preferential allotment is Rs 90 a share, making the total deal size Rs 142.43 crore.

Den Networks is India’s leading cable TV Distribution Company reaching an estimated 13 million households in over 200 cities. The company has been one of the frontrunners in the cable TV digitization process and has over 5.7 million digital cable subscribers. DEN is present in 13 key states across India.