Laqshya Media to get Rs 276 crore investment from Warburg Pincus

Warburg Pincus, global private equity firm, is making an investment of up to Rs. 276 crore in Laqshya Media, a privately held, out-of-home (OOH) media advertising company,  over the next 12 months.
Currently present in India, Sri Lanka and the UAE, Laqshya plans to expand its footprint across the Middle East, Africa and South-East Asia.
 Alok Jalan, managing director, Laqshya Media, said, “This investment by Warburg Pincus, a leading global private equity investor, comes at a time when the Out-of-Home advertising space is growing dramatically. We will be capitalising on the multiple growth opportunities we see for our business, and accelerate our company’s expansion plans to build our leadership position across India and overseas.  We are excited to execute the next stages of our strategy in partnership with Warburg Pincus.”
 Julie Johnson Staples, head of communications, Warburg Pincus, said, “Outdoor advertising in India is undergoing a period of rapid and transformative growth, as the industry consolidates and the quality of assets reaches global standards.  We are delighted to partner with Laqshya Media, a recognized leader in this sector.”