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HomeShop18, has said that it will raise fresh round of funds from OCP Asia and its promoter Network 18. It said that while hedge fund OCP Asia will invest $15 million in the company, it will be matched by an equal contribution from Network18.
Besides running a shopping television channel, HomeShop18 also offers shopping experience through Internet and mobile.
While Network 18 will remain the majority shareholder with 51 per cent stake, SAIF Partners and GS Home Shopping are the other existing investors at HomeShop18.
Sundeep Malhotra, CEO, HomeShop18, said in a statement, “We believe OCP Asia’s investment will help put us on an accelerated path of growth.”
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