Investment of Hindustan Media Ventures Limited in Parijat Innovations Private Limited (Hubhopper), by subscribing to certain equity and compulsorily convertible preference shares, aggregating to 15.79% stake in the company on a fully diluted basis. It is the first investment of HT Group in a company engaged in the field of podcasts, according to reports and stock exchange announcements.

The Board of Directors of Hindustan Media Ventures Limited at its meeting held on 27th July, 2020, has approved investment upto Rs.4.5 Crore in Parijat Innovations Private Limited, in one or more tranches, by subscribing to its Compulsorily Convertible Preference Shares (CCPS).

— Equitybulls

Desai & Diwanji advised Hindustan Times, HT Media Limited, led by a team of senior partner Sumant Nayak, partner Samidha Tyagi and associate Garvita Mehrotra.

Also advising was Kocchar & Co Delhi.

Update 8 February 2021: Legasis Partners advised ITI Growth Opportunities Fund led by a team including partner Apurv Sardeshmukh and Senior Associate Aanchal Lamba.

2020-12-22

Deal value: Confidential

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.