MensXP, iDiva, and Hypp’s parent company, India Lifestyle Network (ILN), is seeking to split from Mensa Brands, according to insiders who spoke with Inc42.
In talks to acquire Mensa’s share of ILN, VC and PE groups are joined by Angad Bhatia, the founder of ILN. At the moment, Mensa owns a 100% share in ILN.
Bhatia confirmed the news to Inc42, saying, “Given the interest in new-age media and the assets ILN has acquired, a few strategic investors have approached Mensa and ILN. Mensa and ILN are both enthusiastic about these possibilities and are currently in talks with additional participants in the broader media and content ecosystem.
ILN wants to operate as a separate entity as it believes that Mensa’s growth priorities don’t align completely with ILN’s, the sources said, adding that Mensa is unable to provide the capital required for ILN’s growth.
Read More – To expand operations, Everest Fleet raises INR 251 Cr from Uber.
