Post the deal, HSN Cyprus would cease to be an associate of the company. In its BSE filing, the company told that it has sold 13,20,481 shares in Television Home Shopping Network Limited formerly known as TV18 Home Shopping Network Limited.
The existing shareholders Network18 Media & Investments, SAIF Partners, GS Home Shopping South Korea, OCP Asia, CJO Shopping Co. Ltd, and Providence Equity Partners have not participated in this round. After the investment, Skyblue holds 82.64% of HomeShop18, becoming the holding company and promoter of HomeShop18. With this investment, HomeShop18 has ceased to be a subsidiary of NW18 HSN Holdings Plc and an associate of Network18 Media & Investments. The company is in the process of changing its corporate as well as the brand name.