INM further divests stake in Indian publishing group

The Independent News and Media (INM) has divested another 7.5 per cent stake in the Indian publishin

INM has sold its stake to a group of domestic and foreign funds. It has reportedly been keen to exit from its non-core assets.

After this sale, INM will be left with only 6 per cent holding in the Indian publisher.

The UK publishing group had acquired 26 per cent stake in Jagran in 2005 for €28.5m. It has until now sold around 14.8 per cent of that stake.