Dsps Kothari, Ajay Piramal Have Fm Channel Pie

What happens when a merchant banker, an industrialist and a creative whizkid come together? They form an FM music channel.

The owners of Win 94.6, the new FM music channel, happen to be merchant banker and stock broker Hemendra Kothari of DSP Merrill Lynch, pharma takeover tycoon Ajay Piramal and radio personality Gautam Radia, the managing director of Millenium Broadcast.

While Kothari and Piramal are the actual financiers of the channel, with stakes of 60 per cent and less then 30 per cent, respectively, the day-to-day affairs is run by Radia.

Both Kothari and Piramal are hands off investors. Sources close to Kothari say his investment in the FM channel was not motivated by financial returns but because of a close equation with Radia.

 

But not so in the case of Piramal though, who said: