Videocon may sell 26% stake to foreign players

Diversified group Videocon Industries today said it may sell up to 26 per cent stake in the company to foreign players.

"Many foreign companies are eyeing a stake in us.... We may dilute a stake of up to 26 per cent," Videocon Industries Chief Venugopal Dhoot told reporters here.

Asked by when a stake dilution can take place, he said, "As soon as we get a good valuation we will do that."

He said the company's valuation, which is currently at Rs 12,000 crore, may go up further considering the rapid expansion it has undertaken.

Group company Videocon Mobiles recently started its services in Tamil Nadu, Gujarat and Mumbai circles.