The Hindu Business Line : TV18 plans shopping channel

Television Eighteen India Ltd (TV18) has announced that it would launch the country's first fully integrated Home Shopping Network (HSN) for the Indian market. The company has secured initial funding from SAIF Partners, a leading Asian private equity fund. "The company and SAIF are committed to this initiative through its various lifecycle stages — and intend to make this initiative the number one home shopping channel and online venture in India,'' said a news release. The organised shopping market is expected to become a $30-35 billion opportunity by 2010. Quoting studies, the company said that the spending population is expected to increase from 280 million in 2002 to 686 million in 2010. Nearly 75 million sq.ft. of mall space is estimated to become available in India by 2007. "The TV18 HSN will leverage the TV18 Network of 5 channels and 6 Internet properties," the release said.

BMR & Associates acted as transaction advisors for the company on this deal. Edelweiss Capital acted on behalf of SAIF Partners.

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