PE fund New Silk Route firms up plans to exit from 9X Media

9X Media is run by a consortium of investors with NSR being the majority shareholder

BestMediaInfo Bureau | Delhi | August 17, 2012

According to informed industry sources, private equity (PE) player New Silk Route (NSR) Advisors is on the way to exiting from 9X Media, the business it had entered in 2007. NSR had upped its stake in 2009 when Peter Mukherjea, who had launched 9X Media, exited from the business.

Earlier in April this year, NSR had said that it planned to exit from its first batch of investments in 9X Media made in 2007 and 2008.

9X Media is run by a consortium of investors with NSR being the majority shareholder. The company is headed by media veteran Pradeep Guha.

When contacted, Darius Pandole, Partner, New Silk Route, declined to comment on the development.

New Silk Route is a leading Asia-focused growth capital firm founded in 2006 with a corpus of $1.4 billion. It aims to invest 75 per cent of its funds in India.

Info@BestMediaInfo.com

Info@BestMediaInfo.com