Reliance Broadcast in talks to raise Rs 4,000 cr via PE

Reliance Broadcast Network  is in talks with a clutch of private equity investors and strategic players to raise 3-4 billion rupees via a fresh share issue as it looks to expand its radio and television footprint across the country, a top official said. [caption id=“attachment_71940” align=“alignleft” width=“380” caption=“Reliance Broadcast has mandated Yes Bank for the transaction. Reuters”]  [/caption] “We are in talks with a bunch of players, both private equity and strategic investors…we hope to conclude the deal by the next quarter,” Chief Executive Tarun Katial told Reuters in an interview on Monday. Reliance Broadcast has mandated Yes Bank for the transaction, he said. The company, part of the Anil Dhirubhai Ambani Group, runs it radio business under BIG FM and has recently launched three English general entertainment channels under its joint venture with CBS Studios International, a division of CBS Corp. The firm is also in talks with strategic players for its live entertainment business under BIG Live, which executes and owns televised intellectual property and hopes to make an announcement in the December quarter. Reuters