Homeshop18 gets fresh round of capital

OCP Asia, which manages hedge funds, along with Network18 has

invested a fresh round of capital worth 30 million dollars (Rs 163 crores), in one of India’s oldest ecommerce brand Homeshop18. OCP Asia will invest 15 million dollars (Rs 81 crores) into the company, matched by an equal contribution from Network18. While the transaction values HomeShop18 at 330 million dollars (Rs 1,797 crores), Network 18 still remains the majority shareholder with 51 percent of stake.

HomeShop18 had raised 18.6 million dollars (Rs 101 crores) from SAIF partners and existing investors in July 2012. Also, GS Home Shopping, a South Korean company, had invested 18.5 million dollars (Rs 100 crores) along with five million dollars (Rs 27 crore) from Network 18 in a funding round in 2009. OCP Asia which is one of the top 25 hedge fund managers in Asia as per the ‘Asia Hedge Fund 25 Ranking’ published by Institutional Investor has joined the wagon with the existing investors SAIF Partners, GS Shop, Network18.

HomeShop18, online and teleshoping arm of Network 18 launched its e-commerce store in 2011 with Homeshop18.com, after launching the 24 hours TV Channel in 2008, and now with the claimed portfolio of over 12 million SKUs across multiple product categories and a logistical reach of over 3,000 locations across India, Homeshop18 sells through its various channels which includes TV, Internet and mobile.