Valuable Group is raising $21.37 Mn by selling 26% stake in its media arm - Valuable Media Ltd. It is also raising over $28.9 Mn from DAR Ventures and Thurles India Investments for its infrastructure arm - Valuable Destination Pvt Ltd.
Valuable Group established in 2004 by Sanjay Gaikwad, Narendra Hete, Usman Fayaz and M.B Zaidi operates in three industry verticals - media, technology and infrastructure through its group companies.
The media arm - Valuable Media Ltd operates digital movie rental service through Moviebeam which it acquired from Disney in July'08 and it also operates theaters under the brand UFO Moviez. The acquisition was made via DAR Capital.
Valuable Media will use the funds to launch 'small mall technology - a satellite based digital distribution of films' in smaller towns and for marketing of its consumer box (digital movie rental service) business aggressively.
Valuable Media Ltd has also acquired the distribution rights for IPL matches from 2010 to 2019. It has tied up with 550 screens to show live IPL 3 matches without any commercial interruptions.
The infrastructure arm - Valuable Destination Pvt Ltd builds rural infotainment centers to provide information, entertainment and retailing services under one roof. It intends to use the funds for expansion plans. It has planned a hospitality project in Shirdi, which will have 2000 service apartments, a meditation center, gardens and other recreational facilities. A part of the funds raised may also go into this project.
Dar Capital is a Dubai based PE firm with more than $250 Mn under management. Dar Capital Group is headed by Arun Rangachary and has made several investments in India through its four funds.
Funds Managed By Dar Capital
| Fund Name |
| DAR Agriculture Fund |
| Signature DAR Media & Enertainment Fund |
| Dar Real Estate Fund I |
| Dar Real Estate Fund II |
It is also launching a Rs 200 Cr fund to invest in films. Dar will sponsor 30-40% of the total fund size.
Investments by DAR Capital
| Date | Asset | Size ($ Mn) |
| Nov'09 | IPL - Theatrical Rights | 71.00 |
Reference: Financial Express
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