Korea's GS Home Shopping buys stake in HomeShop18

Korea-based GS Home Shopping has taken stake in HomeShop18 for $18.5 million, valuing Network18's on-air and online retail marketing channel at Rs 5.71 billion.

By this move, GS Home Shopping has made an entry into the fast-growing Indian market.

Network18 Holdings, a wholly owned subsidiary of Network18 Media & Investments, will pump in an additional $5 million. HomeShop18 will, thus, get a fresh capital infusion of $23.5 million to fund its expansion.

GS Home Shopping is buying the stake from Network18. SAIF Partners holds 30 per cent stake in HomeShop18. Network18 will remain the majority shareholder in HomeShop18 with a 51 per cent equity stake on a fully diluted basis.