MUMBAI: TV18 Home Shopping Network Ltd ('HomeShop18') has raised a fresh round of funding from 'Skyblue Buildwell Private Limited' ('Skyblue'), a new investor. The existing shareholders (namely: Network18 Media & Investments, SAIF Partners, GS Home Shopping South Korea, OCP Asia, CJO Shopping Co. Ltd and Providence Equity Partners) have not participated in this round. After the investment, Skyblue holds 82.64% of HomeShop18, becoming the holding company and promoter of HomeShop18.
With this investment, HomeShop18 has ceased to be a subsidiary of NW18 HSN Holdings Pic and an associate of Network18 Media & Investments Limited. Accordingly, the Company is in the process of changing its corporate as well as brand name.