Indian digital and mobile entertainment platform Hotstar, owned by Novi, a subsidiary of media to communication company Star India, has received an infusion of 516 crore rupees ($73.7 million) from Star US and is now valued at $264.3 million.
The fair value of Hotstar was $265 million. In the financial year 2018, the company’s revenues were $81.6 million.
However, in the quarter ending June alone, the company saw revenues of $81.37 million.
In the financial year 2017, Novi reported a 79 percent increase in revenues.