Double Honours Holding Ltd, a Montreal-based foreign institutional investor, has picked up a 10 per cent stake in Entertainment Network (India) Ltd, a wholly owned subsidiary of media giant Bennett, Coleman & Co, through its Mauritius-based investment arm.
AP Parigi, managing director and chief executive officer of Entertainment India, confirmed the private placement of equity but declined to divulge the exact amount paid for the 10 per cent stake.
Entertainment Network houses Radio Mirchi, the Times group