Nimbus to spread its tentacles

Nimbus Communications is on an expansion spree and has set aside RS 2 billion for this purpose. As part of the expansion plan Nimbus will be airing two satellite channels, will launch a set of portals is a JV with IDBI and will be launching new TV software production facilities. To fund all these projects Nimbus would be coming out with an IPO of 30% of its equity. One of the channels would be called Showbiz TV. The channel, as one can guess form the name, would primarily be an entertainment channel. The channel would focus on news relating to films, stars, events and general entertainment. The second channel is likely to be a channel devoted exclusively to women audience.

The two portals which the company is planning to set in a joint venture with IDBI would be focusing on entertainment and e-commerce. The brandname given to this venture is nirvanazone.com.

In addition to the new ventures the company would also be spending RS 900 million to expand its current operations like software production, media marketing and airtime sales.