Television

FIPB clears hike in NRI stake in K Sera Sera

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/04/30/sera%20sera.jpg?itok=1DFi-Q0P

MUMBAI: The Foreign Investment Promotion Board (FIPB) has formally cleared the transfer of shares held by Indian residents in production company K Sera Sera to non-resident Indian investors. The share transfer amounts to 18.15 per cent of K Sera Sera's total equity base.

The share sale transaction was done through an off-market deal as per information furnished by the company to the government. At the moment (post-transfer), foreign holding in K Sera Sera stands at 38.04 per cent.

Indias Foreign Investment Promotion Board (FIPB) recommended the K Sera Sera proposal for clearance late last month subject to the condition that it should conform to the existing foreign direct investment (FDI) sectoral policy.

As per an extant policy, 100 per cent FDI is permitted under automatic route for film production.

While recommending the case for finance ministers approval, the FIPB also noted that if for acquisition of 18.15 per cent of total equity, the FIIs and NRIs have to make an open offer to the public, as per regulatory framework, it should be done.

The companys share on the Bombay Stock Exchange closed Wednesday at Rs 126 after opening the day at Rs 131.25.

K Sera Sera was formed in 2002 after a take-over of a listed company Garnet Paper with the help of some NRIs in Hong Kong and the USA, as per information furnished by the company to the government.

Though primarily into film production and distribution business, K Sera Sera made its debut in the television segment of the entertainment industry earlier this year by launching Kuchh Love Kuchh Masti on Sahara One.

The company had submitted an application for post facto approval for transfer of shares in favour of seven NRIs namely KH Ramani, Virendra Khurana, Bhagwandas Chandiramani, Ashok Pamani, Kamini Pamani, RS Motwani and RK Sabnani who acquired 26,33,646 shares of the company through off-market purchases.

In addition, the company also made preferential allotment of fresh shares of 24,88,186 to the NRI and FII investors.

Though the government recently put transfer of shares from resident to non-residents under automatic route, subject to certain conditions, the FIPB did ask for comments from the related ministries as this particular proposal was submitted to the government before policy changes were effected.

While the department of heavy industry had no comments to offer initially, the information and broadcasting ministry did not have any objection to the proposal as it was getting covered under the automatic approval route.

In an interview to indiantelevision.com in the beginning of 2004, company executives had said that 75-80 per cent of revenue was being sought to be generated through movies, while the rest will be through television work, whose share is likely to go up substantially in 2005. Towards this end, the company had admitted signing up Ravi Rai, Clapstem's Girish Mallik and DJ Creative's Tony Singh for televsion assignments.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/21/Kisan_channel1.jpg?itok=nz2R35_l
Nine Doordarshan 'kendras' fail to utilise budget for Kisan channel

NEW DELHI: Nine Doordarshan 'kendras' (centres) including four in the northeast failed to utilise budgetary allocation for Kisan channel programmes in the first quarter of 2017-18. On the other hand, the Central Production Centre in Delhi exceeded using its allocated budget.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/20/partha-dey.jpg?itok=VFLSvk43
Dishum Broadcasting appoints Partha Dey as COO

Dishum Broadcasting has appointed Partha Dey as the chief operating officer (COO), reporting to the board of directors. His new portfolio would include overseeing and managing broadcasting operations including programming, OAP, consumer research and branded content.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/20/zeel.jpg?itok=9lMfXwcM
&Privé HD ropes in Fiama and Vaseline, premieres with 'Moonlight' on Sunday

ZEEL's new channel &Privé HD, which promises to treat cinema lovers, through collaborations with Hollywood studios -- Sony Pictures and Paramount, has roped in partners Fiama and Vaseline.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/20/punit-goenka.jpg?itok=F3zkFQnz
ZEEL CEO Punit Goenka motivates youth, honours his one-millionth Twitter follower and family

One of the leading traditional Indian broadcasters ZEEL acknowledges and recognises the importance of new media. It has kept its promise with India's social media enthusiasts and followers, and honoured them.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/20/tv.jpg?itok=caAgyiz5
Most TV execs can't sell streamlined multichannel ads, rely on homegrown tech: Study

Most TV companies are unprepared for advanced TV, a research has revealed.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/19/rajat-sharma-800x800.jpg?itok=7u0-8_Cb
New NBA president Rajat Sharma to strive for healthy competition in fraternity

India TV founder and chairman Rajat Sharma has been elected as the president of News Broadcasters Association (NBA).

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/19/PRASAR.jpg?itok=B5an8ay6
Prasar CEO reiterates implementation of SC verdict on DD's shared sports feed retransmission

NEW DELHI: Prasar Bharati CEO Shashi Shekhar Vempati has directed all private direct-to-home and cable operators not to telecast the sporting events' live feed from Doordarshan that have originally been shared by rights-holding private broadcasters. This was conveyed through a tweet by Vempati....

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/19/UDAY-SHANKAR.jpg?itok=Pr4g8jcN
Star's Uday Shankar on distribution challenges, IPL, FTA vs. pay TV, innovations, Made in India content…and much more

From the thirty seventh floor room, consisting of a table for the occupant to stand and work, some thought-provoking books and a huge TV screen, apart from other knick-knacks, the city life and environs below look scenic. Rather, most of the surrounding sea-facing skyscrapers in between the  green...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/09/20/colors.jpg?itok=lCvy4Qkw
Colors reinvents prime-time with 'Tu Aashiquii', 'Ishq Mein Marjawan''s unconventional storytelling

Love is unpredictable. On one hand, it gives a person the power to create the perfect fairytale, on the other hand, it can destroy everything in its path. Love can liberate or it can perish. Putting the spotlight on bolder and edgier content, Colors is all set to present two extreme shades of love...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories