One of India’s youngest media houses, Reliance Broadcast Network Limited, has announced plans to acquire Imagine Showbiz Limited, the television channel specialising in Bollywood music and entertainment. The size of the deal is estimated to be Rs 15-20 crore, according to this story on www.economictimes.com.
Reliance Infratel, a subsidiary of Reliance Communications, has revived its IPO plans. Over a year ago, the telecom tower infrastructure company had filed a draft red herring prospectus with Sebi. The issue was postponed as stock markets fell, after the global financial crisis hit Indian equities. The company was planning to raise about Rs 6,000 crore through the IPO at that point. Continue Reading →