Homeshop18 raises $30 mln

Enters an agreement where in OCP Asia Limited will manage funds.

OCP asia which is one of the top 25 hedge fund managers in Asia is investing USD 15 Million with Network 18, in India's first 24 hour home shopping TV channel HomeShop 18. While the transaction values HomeShop18 at USD 330 Million, Network 18 still remains the majority share holder with 51 per cent of stake.

Sundeep Malhotra, CEO, HomeShop18 said, “We are now on the throes of our next phase of growth, and we believe OCP Asia’s investment will help put us on an accelerated path of growth. We are delighted that Network18, our Promoter, has backed their continued belief in the HomeShop18 business model by investing their fair share of the round.”