Business Standard 13 September 2012
Peepul Capital LLC, a Hyderabad-based private equity fund, is likely to invest Rs 500-Rs 1,000 crore in debt-ridden Deccan Chronicle Holdings Limited (DCHL), which publishes English newspapers Deccan Chronicle, Financial Chronicle and Asian Age, and Telugu daily Andhra Bhoomi.
When contacted, Peepul Capital Managing Director C Srinivasa Raju said the company was willing to invest in Deccan Chronicle Holdings. However, he declined to specify the amount. “Our investment in DCHL would be from our $700-million fund (which includes $100 million of its own money). Since our firm has both dollar and rupee funds, it (the investment) will be a combination of both currencies,” he said.
Peepul Capital is the first company to evince interest in investing in DCHL, which accounts for debt of about Rs 5,000 crore.