INDIA BUSINESS WORLD - APRIL 1st - APRIL 15th - 2008
INDIVISION, PASSPORT & JP MORGAN BUY 10% IN PERCEPT LTD.
Three private equity players — JP Morgan, Future Grouppromoted Indivision Capital and Passport Capital — have picked up 10% stake in entertainment, communications and celebrity management company Percept Ltd for close to Rs 65 crore. A top Percept official confirmed the development. This is the first round of private equity funding for Percept. Last year, the entertainment and communications company had almost sealed a deal with Indivision, but talks had fallen through. Percept Ltd has ambitious plans in the media and entertainment space and sources say it could scout for additional funding in the next few years. Holding company Percept Holdings is learnt to be in talks with at least three-four players in the entertainment and advertising space for strategic tie-ups.
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