Television Eighteen India today said it will raise $ 10 million (nearly Rs 47.7 crore) by allotting preferred stock of its subsidiary to global investor Nokia Growth Partners (NGP) II Mauritius.
Web18, the Internet arm of TV18 is raising $ 10 million as strategic growth capital from NGP II Mauritius, the filing added.
TV18 would obtain necessary approvals regarding the strategic investment, it said.
Nokia Growth Partners focuses its direct investment activities on information and communication technology companies serving mobile industry, it added.
Shares of Television Eighteen India were trading at Rs 97.30 on the BSE, up 0.62 per cent from previous close.
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