The e-commerce marketplace has sold an undisclosed stake to media group Bennett, Coleman and Company in a $15m ad-for-equity deal.

Media group Bennett, Coleman and Company (BCC) has taken a stake in India-based e-commerce marketplace ShopClues.com through a $15m advertising-for-equity deal, VCCircle reported on Monday, citing a regulatory filing.

Founded in 2011, ShopClues runs an e-commerce marketplace that connects third-party merchants with consumers in smaller Indian towns and cities often overlooked by other online sellers. It claims to ship more than 3.5 million items each month.

ShopClues raised between $100m and $140m in a January 2016 round led by…