HT Media is to acquire a 40% stake in MyParichay, an online recruitment business. HT Media will acquire equity shares from MyParichay’s existing promoters and by subscription of CCPS in three separate tranches over the next two years. The deal is projected to augment HT Media’s existing online recruitment portal Shine.com, which was launched in 2008. J Sagar Associates advised HT Media while PXV Law Partners advised MyParichay.
Founded by Ranjan Sinha and Vivek Sinha in December 2011, MyParichay has built a network within Facebook that allows members to apply for jobs, companies to recruit, and employees to refer friends for internal job postings.
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