Raghav Bahl’s luck turns + decoding Adani’s growth

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Editor's note: Even a whiff of Adani can turn something to gold. That may well be the short synopsis for the change in fortunes that Raghav Bahl, owner of Quintillion Media, is experiencing. It is public knowledge that Bahl had to exit Network18 in 2014, the media company he founded, after Mukesh Ambani-owned Reliance Industries decided to convert its debt in it into equity prematurely. Subsequently, Bahl attempted to start a business television channel in partnership with Bloomberg, but that too didn’t work out as his licence took forever to arrive. Bahl then decided to focus on digital media, which never achieved the scale he envisaged in television. After four years of struggle and writing off an estimated Rs 200 crore of sunk investment in the proposed television business, Bahl’s listed company Quint Digital Media reported a revenue of Rs 21 crore and a loss of Rs 1.86 crore in 2020-21. The shocker is that Quint Digital Media’s market capitalization today stands at over Rs 950 crore. Bahl had bought the company (which was renamed as Quint Digital Media) in November 2018. …