imedia investing $10 million in compact disc india

Integrated media(iMedia) and entertainment company Compact Disc India (CDI) on Tuesday said content developer iMedia Ventures will invest $10 million in the company and is interested to pick up 15 per cent stake in it.

Compact Disc India(CDI) filing to the Bombay Stock Exchange and and stating that iMedia Ventures has offered to invest $10 million (about Rs 47 crore) in the company's expansion projects.

Further, iMedia Ventures have also shown interest in buying 15% equity shares in Compact Disc India(CDI). These offers would be considered in the next meeting of the board of directors to be held during October.