Video streaming platform Hotstar, which is priming for digital rights to broadcast the upcoming Indian Premier League. It has raised Rs 1,066 crore (about $153 million) from its parent companies Star India Private Limited and Star US Holdings.
The latest capital infusion values Novi Digital Entertainment Private Limited, the Mumbai-based entity that operates Hotstar, at $495.73 million (Rs 3,421.68 crore), according to TechCircle’s estimates.
Out of the Rs 1,066 crore invested by the parent entities, Rs 832 crore came from Star India while the rest was invested by Star US Holdings, according to the filings.
