Television news broadcaster NDTV has entered into an agreement with Standard Chartered Private Equity Limited (SCPEL) for SCPEL to invest approximately US$11 million in NDTV. The agreements are subject to regulatory approvals and other closing conditions.

Lazard India acted as advisor to NDTV for the transaction. Udayan Bose, chairman, Lazard India, said ###DQ###After this transaction, NDTV is looking at an accelerated growth through expansions and acquisitions. I have been following the NDTV story since NDTV was launched more than a decade ago. NDTV is a successful cash rich company with an excellent track record and is doing extremely well. I am delighted that we have been able to play a small role in bringing about this transaction for Prannoy, who has been a very good friend. I wish him and his team the very best.###DQ###

Commenting on the investment, NDTV honcho Prannoy Roy said, ###DQ###NDTV has been in the TV news business for over 15 years. We welcome Standard Chartered Private Equity as an investor in NDTV.###DQ###

NDTV currently operates two 24-hour news channels, NDTV 24X7 in English and NDTV India in Hindi. It also provides news through its web site, NDTV.com, through mobile phones and also by providing news content to other broadcasters such as Vijay TV. NDTV also produces and supplies entertainment and current affairs content to other TV broadcasters. Programmes produced by it include Kapil Dil Se, Jeena Isi Ka Naam Hai, Ji Mantriji etc.

Standard Chartered Private Equity Limited is the global private equity arm of Standard Chartered Bank, based in Singapore. SCPEL invests in companies in a variety of industries across Asia.