Times & #BANNER1 & # Innovative Media Ltd (TIM), the out of home media subsidiary of Entertainment Network India Ltd (ENIL), has got a combined equity investment of Rs 200 crore from Goldman Sachs and Lehman Brothers. TIM has been valued at Rs 1,200 crore, and both Goldman Sachs and Lehman Brothers have acquired an equity stake of 8.28 per cent each.
AP Parigi, managing director, ENIL, says, "The strong growth potential indicated by the Indian economy is also expected to benefit the out of home media sector. And as a significant player in this sector, Times OOH plans to be in the forefront of several initiatives."
Parigi hopes the fresh investment will elevate the profile of TIM significantly.