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HomeShop18 & Shop CJ aggregate their businesses under the HomeShop18 umbrella

Posted On: 2018-02-16 23:35:58

Leading home-shopping players TV18 Home Shopping Network Limited ("HomeShop18") and Shop CJ Network Private Limited ("Shop CJ") have combined their businesses, thereby completing the transaction proposed in Sept 2017. This combination makes HomeShop18 the largest TV home-shopping network in India.

The resultant benefits of scale shall better the growth prospects for the combined entity, allowing it to improve its standing in the TV home-shopping landscape and compete better with the challenge from e-commerce players. HomeShop18 has optimized its operations substantially since the challenges faced in the last year. We believe multiple synergies with respect to sourcing, marketing and delivery can be exploited through a combination with Shop CJ, which shall further accelerate this process.

Pursuant to this transaction, Shop CJ shareholders hold 25% in the combined entity. HomeShop18 ceases to be a subsidiary of Network18 Media & Investments Ltd; however, Network18 shall continue to be the largest shareholder in the combined entity.

HomeShop18

HomeShop18 is India's first comprehensive digital commerce player, selling credible brands to customers nationally through not just TV but also internet and mobile. As a pioneer, HomeShop18 changed the way Indians shop by launching India's first 24 hour Home Shopping TV channel in 2008. Today, HomeShop18 has an impressive portfolio across multiple categories and a logistical reach of over 3000 locations across India. Before this transaction, HomeShop18 was a subsidiary of Network18 Media & Investments, with SAIF Partners, GS Home Shopping South Korea and OCP as co-investors.

Shop CJ

Prior to this transaction, SHOP CJ Network Pvt. Ltd. (Formerly Known as STAR CJ Network India Pvt. Ltd) was a 50:50 joint venture between the South Korean home shopping major, CJ O Shopping Co. Ltd. and the P5 Asia Holding Investments (Mauritius) Limited belonging to the Providence Equity Partners group.

Shares of NETWORK18 MEDIA & INVESTMENTS LTD. was last trading in BSE at Rs.49.8 as compared to the previous close of Rs. 50.05. The total number of shares traded during the day was 166639 in over 1044 trades.

The stock hit an intraday high of Rs. 50.55 and intraday low of 49.2. The net turnover during the day was Rs. 8305216.


Source: Equity Bulls

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