News Roundup: Homeshop18 eyes $100mn IPO, Eros International To acquire B4U Television Network

HomeShop18 eyes $100 mln U.S. IPO

Indian media group Network 18 is moving towards a U.S. listing of its wholly owned online retail arm, HomeShop18, that could raise about $100 million, two sources with direct knowledge of the matter said.

The group is in talks with institutional investors, including private equity firms, to take up shares as part of the listing plan [source]

Ezeego1 sets up its first-ever franchise outlet

Ezeego1.com, the online travel search site has launched its first ever franchisee store in Surat marking its entry into the offline space. With this opening, Ezeego1.com aims to establish its offline presence and distribution network across all cities in India focusing on tier II and tier III cities this fiscal year. This store of Ezeego1.com will provide travel services like flight tickets, hotel accommodation, car rentals, holiday packages, rail, cruise, bus, sightseeing, visa and Insurance that are also offered on the website.

Eros International To acquire B4U Television Network

Eros which currently holds 24% stake in B4U and post the agreement, Eros International Plc will acquire the rest of 76% for an aggregated purchase price of US$53.1 million.

B4U is a global television network that provides Indian programming across two digital television channels, Music and B4U Movies. As of December 31, 2011, was avaiiable in more than 100 countries including India, the UK, the US, Canada and countries in the Middle East and Africa. [announcement]

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