Den Networks to hike stake in Macro Commerce

Cable distribution firm Den Networks, which runs a TV merchandise channel in association with Jasper Infotech, will increase its stake in the venture to 82.87 per cent.
The company presently has 50 per cent share in Macro Commerce, which owns the TV channel.
"Den Networks has entered into an agreement with Jasper Infotech Pvt Ltd for increasing equity stake of the company in Marco Commerce.
"The increase in equity stake includes by way of subscribing and purchasing shares in Marco," Den Networks informed BSE.
The total cost of acquisition would be Rs 6 crore, in which Rs 1 crore would be for share purchase and rest Rs 5 crore would be on subscription by way of rights, the company said.

Jasper Infotech is the holding company of e-commerce firm Snapdeal.Com.