Blackstone invests Rs 225 cr in Jagran

Jagran Prakashan said Blackstone GPV Capital Partners,Mauritius,has invested in its holding company.

Media firm Jagran Prakashan Ltd (JPL) today said private equity firm Blackstone GPV Capital Partners,Mauritius,has invested Rs 225 crore in its holding company Jagran Media Network Investment Pvt Ltd.

In a filing to the Bombay Stock Exchange,JPL said Blackstone has invested Rs 225 crore in accordance with various government approvals.

The company,however,did not disclose the quantum of stake sale that was effected.

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“At this point of time we cannot disclose the amount of stake dilution in JMNIPL,” JPL Company Secretary Amit Jaiswal told PTI.

JMNIPL recently became a holding company of JPL with all the 21 promoters consolidating their 59.46 per cent stake of the total issued and paid-up capital.

It is 100 per cent owned by JPL’s promoters and their family.

JPL’s share were trading at Rs 109.50 per share,down 0.77 per cent in the later afternoon trade on the BSE.

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