Digital Co iMusti in talks for partial or full stake sale

AHMEDABAD: iMusti.com, a digital entertainment platform for Indian and international music, books and movies, is in talks with five entities for a partial or full stake sale.

The company, which is seeking a und infusion of over $100 million, expects the deal to materialise in 2016, its chief executive officer Samir Khandwala has told ET.

"We seek funds to capture a bigger piece of the market in terms of con ent that is yet to be digitalised," sa d Khandwala, who launched iMus i.com in 2008 on funds secured rom high networth individuals. Headquartered in California, the company has offices in Madurai and Ahmedabad. iMusti has books in over 18 languages on sub ects such as academics, fiction, non-fiction, biography, self-help, science and sports. Seeing a significant demand for educational books in India, iMusti launched a category of pre-owned textbooks rom foreign publishers last year.

"Very soon, our platform will ntroduce rent an e-book concept. That apart, we are keen to get regional movies produced hat would further strengthen our footprint in the niche doma n. Thirdly, we are keen to e-tail art and collectibles from India," said Khandwala.