ICICI Ventures, the country’s largest venture capital firm, is likely to sell its entire 63.3% stake in the publishing company, Infomedia, which is valued around Rs 235 crore at the current market price.
ICICI Ventures was earlier considering part-stake sale, but later it decided to sell the entire stake if it gets good valuations. Infomedia has twelve b2b titles and eight b2c special interest magazines in its repertoire.It was further learnt that ICICI Ventures is in talks with UK’s Reed Elsevier for the stake sale.
Infomedia India (formerly, Tata Infomedia) has a 51-49 joint venture with Reed Business Info, a division of Reed Elsevier. ICICI Ventures exit, Prakash Iyer, managing director, Infomedia India, told DNA Money: “It’s not true.”
Read more in DNA Money article.
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