IDBI, Bank of Baroda pick up 20 per cent in B.A.G Infotainment

MUMBAI: The appetite of Indian banks for investing in private FM radio business has begun. IDBI Bank and Bank of Baroda have picked up 10 per cent each in B.A.G Infotainment, the subsidiary company under which B.A.G Films operates its radio business.

"We have offloaded 20 per cent in our radio company to the two banks for Rs 40 million. We are issuing the shares to them on par value," B.A.G Films managing director Anuradha Prasad tells

B.A.G Infotainment will also be diluting an additional 20 per cent to a foreign private equity investor at a higher valuation. The promoters of B.A.G will keep the remaining 60 per cent with them.

"We are in advanced negotiations with private equity investors for parting with 20 per cent equity at a higher premium. We hope to finalise the deal soon," says Prasad.

The government regulation makes it mandatory for the promoter of private FM radio stations to have at least 51 per cent holding in the company. "We could have diluted a further nine per cent but have decided to keep it with us," says Prasad.

B.A.G has earmarked an investment of Rs 480 million for its radio business. The company has already pumped in Rs 140 million including Rs 50 million towards licence fee for the 10 radio stations it plans to operate in.

The company will kick off its first radio station in March, says Prasad. The stations it has successfully bid for include Patiala, Hissar, Karnal, Simla, Ahmadnagur, Jalgaon, Dhule, Ranchi, Jabalpur and Muzaffarpur.

"We have already lined up 1000 hours of programming. We have ordered for the equipment and are on track to launch the stations as per schedule," says B.A.G Infotainment chief operating officer Rajiv Mishra.

Latest Reads
Comcast drops bid for 21st Century Fox assets, cedes prize to Disney

The fierce bidding war between Comcast and Disney has finally ended with the former dropping out of the race to gobble up the prized 21st Century Fox assets. Comcast will now shift its focus towards sealing the Sky deal.

Television TV Channels Movie Channels
ZEEL elevates Manish Aggarwal as business head of Zee5 India

In a recent development, Manish Aggarwal has been elevated as business head of Zee5 India, the OTT platform of Zee Entertainment Enterprise (ZEEL).

Television TV Channels People
Sun Life enters Tamil market in BARC week 28

Sun Life, the movie channel by Sun TV Network came as a new entrant this week after Broadcast Audience Research Council (BARC) released its ratings for week 28.

Television TV Channels Regional
Colors Gujarati to launch a dance reality show ‘Naach Maari Saathe’

Colors Gujarati is all set to bring a dance show named Naach Maari Saathe. The show which will hit the small screen from 23 July will have Hitu Kanodia, Vyoma Nandi and Neerav Bavlecha as the judges.

Television TV Channels Regional
Brahmagantu’s Gundamma to emerge on Zee Kannada’s DKD

Zee Kannada, creating the best entertainment programmes, has become a household name for quality entertainment.

Television TV Channels Regional
BARC Week 28 : Aaj Tak leads Hindi news genre

The Broadcast Audience Research Council data for week 28 showed Republic TV continuing to dominate the English news genre, whereas Aaj Tak led in Hindi genre. Meanwhile, News Nation stepped down to fourth position in Hindi news genre.

Television TV Channels Viewership
Zee Anmol maintains lead in Hindi GEC (U+R) in BARC week 28

Zee Anmol retained its leadership position in Broadcast Audience Research Council (BARC) data for week 28 of 2018 in the Hindi GEC (U+R) market.

Television TV Channels Viewership
B4U motion pictures welcomes Naysar Shah as Vice president - marketing & distribution (film division)

B4U Motion Pictures is thrilled to welcome on board Naysar Shah to the UK head office who has been appointed as Vice President of Marketing and Distribution for the Film Division.

Television TV Channels People
Star Vijay launches new game show 'Divided'

MUMBAI: Star Vijay, a Tamil general entertainment channel by Star TV, is all set to launch a game show named Divided on 21 July. This show will be hosted by Neeya Naana debate show fame, Gobinath and will be on air every weekend at 8 pm.

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories