Hinduja TMT may invest Rs 500 crore to grow its media business.The company would look at growing the scale of its existing business in cable, content and distribution, as well as growth through acquisitions, Remi Hinduja, vice chairman of Hinduja TMT, said."This Rs 500 crore is the first phase of investment in our media business, partly funded by gains from exiting the GSM business...the company is looking at both domestic as well as international acquisitions and all acquisitions would involve an element of debt as well as equity," he said.While no timeline is given for the completion of the first phase, he said this would be followed up by two more phases of investment and growth.Hinduja said the company is also in advanced stages of talks with strategic and financial investors who would bring some value to the business apart from bringing in the funds.The company is also looking at giving out equity stakes to existing as well as new partners in the cable tv business, he said.The company has just announced the demerger of its technology and media businesses a few months ago so as to focus on the individual businesses. In2Cable, the broadband subsidiary and InNetwork Entertainment its content subsidiary have been merged into Indusind Media & Communications, IMCL which is now the parent company for the media business.
