Entertainment Network arm receives funding from Goldman Sachs, Lehman Brothers

Entertainment Network India Ltd has announced that Times Innovative Media Ltd ('TIM') the Out of Home media subsidiary of the Company has announce that GS Strategic Investments Ltd ("Goldman Sachs") and LB India Holdings Mauritius II Ltd ("Lehman Brothers") have subscribed to equity shares of TIM for an aggregate consideration of Rs 200 crores. The dual, which was concluded on January 23, 2008, values TIM at over Rs 1,200 crores. Goldman Sachs and Lehman Brothers have an equity stake of 8.28% each in TIM.

Goldman Sachs is a leading global investment banking, securities and investment management firm which provide a wide range of services worldwide to a substantial and diversified client base that includes evaporations, financial institutions, governments and high net worth individuals.

Founded in 1850, Lehman Brothers, an innovator in global finance, maintains leadership positions in investment banking, private equity, equity and fixed income sales, trading and research, private investment management, and asset management worldwide. The Lehman Brothers India franchise has expanded into a full-scale local business leveraging the Firm's strong global platform, infrastructure, and expertise.

The Stock closed the day at Rs.437.75, up by Rs.31.65 or 7.79%. The stock hit an intraday high of Rs.464.95 and low of Rs.415.

The total traded quantity was 10247 compared to 2 week average of 14022.

Source : Equity Bulls

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