Network18 raises $25mn from SAIF Partners

Network18 has raised $25mn from SAIF Partners. The company has issued upto 92,02,650 equity shares (or an equity linked convertible instrument) at a price of Rs 130 per equity share on a preferential basis to SAIF Partners.

Network18 will convene an EGM (Extraordinary General Meeting) of the shareholders of the company on July 02, 2009 to approve the preferential issue.

Northgate to sell BharatStudent?

Northgate Technologies Ltd (Northgate) has informed BSE that the company has over recent months received a number of approaches from interested parties in relation to the leading Indian student Social Media Portal – “Bharatstudent.com” and video/images/audio/document sharing portal- “Ziddu.com”.

Northgate is exploring the possibility of a trade sale of BharatStudent.com.

TRAI plans online consumer grievance redress mechanism

TRAI is working on an online consumer grievance redress platform that will enable subscribers to lodge their complaints against any service provider through the Internet or an SMS.

The platform will automatically direct the grievance to the particular service provider after which the regulator will set a time for resolution of the problem. – more

BSNL IPO?

The employees union of Bharat Sanchar Nigam Ltd said that it was prepared to discuss the company’s proposal for an Initial Public Offering. While the union maintained that it was still opposed to the idea of listing BSNL’s shares on stock exchanges through an IPO, its officials said that they were prepared to hear what the management and the Communications Ministry had to offer.

Cricinfo rebrands to ESPNCricinfo

ESPN owned Cricinfo, the world’s leading cricket Website, today announced that it will re-launch and re-brand to ESPNcricinfo.com, integrating the site further into the ESPN digital suite of Websites. The new-look website aims to significantly improve the user experience and enhance advertising opportunities. The ESPNcricinfo team has made changes based on the behavior of fans on the site, as well as specific research and user feedback.

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