The TV 18 group has decided to launch a general entertainment and infomercial channel, initially in India and eventually entering the West Asian, UK and US markets.
According to the plans, the Indian operations would be launched with an investment of around $13 million, funds for which would be routed through companies incorporated in the Cayman Islands and Cyprus, sources said.
The main company through which funds would be routed is Cyprus-based HSN Cyprus.
HSN Cyprus is a joint venture company between Cayman Islands-based Network 18 Holdings Ltd and Mauritius-based SAIF II Mauritius Company Ltd, a subsidiary of SB Asia Investment Fund II LP, which manages funds worth $643 million.
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