Mumbai-based ASAPP Media Information Group, a B2B media & information group, has acquired the entire shareholding of IPFOnline Limited and along with it the entire print and online business of the company. The deal involves acquisition of the stake held by IPF Online's founder and publisher RV Pandit besides equity investors IL&FS Investment Management (IIML) and HDFC.
Indus Advisors acted as the financial advisor to the sellers while BDO India acted as the financial advisor to the buyer.
From the Venture Intelligence PE Deal database: In August 1999, IIML had invested in IPF Online.
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