MUMBAI Jan 22 India's Nimbus Communications
Ltd. said on Monday it had received 5.52 billion rupees ($125
million) from British investment firm 3i Group Plc (III.L),
Cisco Systems Inc. (CSCO.O) and Oman International Fund.
The investment is through debentures that will be converted
into equity prior to an initial public offering or sale by the
Indian broadcaster, it said in a statement.
Nimbus said it would use this third round of funding to
acquire sports rights, upgrade technology and expand its
Euromax Capital and Enam Financial Consultans were advisors
on the deal.
3i, Deutsche Bank (DBKGn.DE) and Americorp Ventures already
hold stakes in Nimbus, which has the global Indian cricket
telecast rights for four years to 2010.
3i had earlier invested $45 million in Nimbus for an
Nimbus has launched a 24-hour cricket channel, Neo Sports,
and plans to launch two more sports channels.