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The Unit Trust of India has invested Rs 4.5 crores in Rathikant Basu promoted Broadcast Worldwide. Broadcast Worldwide, which promotes the TARA (Television Targeted at Regional Audience) group of channels, has picked up 10% of the Rs 45 crores which are to be raised in the second round of funding.
UTI is the second investor which has picked up a 3.3% stake in the total equity of the company. The shares having a face value of Rs 10 per share are being issued at a premium of Rs 40 per share to the investors. A venture capital company from Gujarat has already picked up Rs 5 crore equity in this second round of funding which is likely to close by the end of the month.
The company is being assisted in its second phase by Ashok Wadhwa of Ambit Corporate Finance Pvt Ltd.
