Balaji Telefilms to sell 25% stake to Reliance Industries
DSIJ Intelligence / 23 Aug 2017
With the board of Balaji Telefilms approving a 25% stake sale to Reliance Industries (RIL), the scrip has moved into the green zone.
With the board of Balaji Telefilms approving a 25% stake sale to Reliance Industries (RIL), the scrip has moved into the green zone. In a resolution passed on Tuesday, the company has approved allotment of 2.52 crore equity shares of the company of face value of Rs 2 each at a price of 164 per equity share for a total consideration of Rs 413.28 crore to RIL.
This allotment has been made after receipt of the entire share application money. Balaji Telefilms was trading at Rs 158.55 per share, up by Rs 3.95 or 2.55% as at 0943 hours on Wednesday, on the BSE. The stock attracted a traded volume of 83,469 shares and traded value of Rs 132.44 lakhs on the NSE.
Engaged in the production of television content, the company operates through two segments, namely, commissioned programmes and feature films. Its digital business consists of ALT Digital Media Entertainment (ALT Digital), a video streaming platform that allows users to watch content on screens across various devices.
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