Yes Bank promoter family invests in BusinessWorld magazine

DOIT Creations Group, owned by Radha Kapoor, daughter of Yes Bank promoter
Rana Kapoor, has picked up a big stake in business magazine BusinessWorld,
which was recently sold by the Anand Bazaar Patrika group to Anurag Batra
of Exchange4media and investment banker Vikram Jhunjhunwala.

“I intend to contribute to the digital / online business development
initiatives and enhance focus on creative / new age industries driven by
creative entrepreneurship in India,” said Radha Kapoor on the investment.

While reports have put the investment at 40% of BW, the companies did not
clarify the valuation or the stake.

“Business World, with its exceptional management team / intellectual
property is an outstanding knowledge driven publication and a media brand
that resonates extremely well with Indian demographics, its emerging
enterprises and potentially lakhs of new entrepreneurs that Business World
will increasingly evangelize.”

Commenting on the successful fund raising, Anurag said “This capital allows
us to implement our intended future growth strategy of creating
path-breaking, differentiated editorial content across key sunrise and
knowledge verticals / communities, establish a new age, revolutionary
digital / online model and undertake strategic initiatives in new media in
India and overseas. Radha is a young, creative entrepreneur who will add
significant value to GBN. We welcome Radha on the board of GBN as our first
woman director in full conformity with the new Company law directives.”