Raghav Bahl-promoted Network18 raises Rs 2 billion

MUMBAI: Raghav Bahl-promoted Network18 Media and Investments Ltd. has raised Rs 2.05 billion (Rs 204.92 crores) via qualified institutional placement (QIP).

Network18 has issued 15,762,889 equity shares of Rs 5 each at an issue price of Rs 130.

The company had also raised Rs 1.2 billion from private equity firm SAIF Partners via preferential allotment earlier this month. A total number of 92.02,650 shares have allotted at a price of Rs 130.