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Mumbai Jan. 22 Nimbus Communications Limited, which is in a bit of bother over sharing its cricket telecast, has received an injection of Rs 552 crore from 3i, Cisco and Oman Investment Fund (OIF), the company said in a statement on Monday.

According to the statement, "The investment is in the form of compulsory convertible bonds to be converted into equity, based on a pre-set formula, prior to an IPO or trade sale."

The funds will be used for a number of activities, ranging from sporting rights acquisitions to Indian-language and international film production. The investment marks 3i's second investment in Nimbus. 3i invested $45 million 18 months ago.

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Nimbus bags cricket rights for $612 m — BCCI sale and sponsorship earnings total Rs 3,354 crore
Broadcasting biz: Nimbus hopes to break even in 2 years

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