India Bulls promoter Sameer Gehlaut to buy 25 per cent in B.A.G Films

MUMBAI: India Bulls promoter Sameer Gehlaut is showing interest in the media business. The Delhi-based entrepreneur is buying around 25 per cent stake in TV content company B.A.G Films for Rs 262 million.

The acquisition is through a preferential allotment of up to 20,250,000 equity shares of Rs 2 each at a price of Rs 13 per share. Gehlaut will have to make an open offer for a further 20 per cent stake which if subscribed totally, would make him the largest shareholder in the company.

The promoters of B.A.G Films will hold around 37.5 per cent on the expanded equity. But their stake will go up after conversion as they are being issued preferential allotment of up to 10,000,000 warrants. The conversion price is fixed at Rs 13 per warrant. Gehlaut's shareholding will also see change after the conversion.

"Gehlaut has come in as a pure financial investor. We will be using the funds to meet our expansion plans," says B.A.G Films managing director Anuradha Prasad.

B.A.G Films will be investing Rs 160 million in new media and the animation business. "Besides, we will be retiring a part of our debt to Yes Bank," says Prasad.

B.A.G Films' radio venture, run through a subsidiary company B.A.G Infotainment, has an investment outlay of Rs 480 million including the licence fee paid for 10 stations. B.A.G Infotainment rcently roped in IDBI Bank and Bank of Baroda for picking up 10 per cent each.

B.A.G Films will also be issuing stock options of up to 10,000,000 equity shares to its permanent employees at Rs13 per equity share.

The scrip touched a high of Rs 15.68 on Monday after opening at Rs 13.40. "The price of the scrip will stay firm and may see one more surge before steadying," says an analyst in a broking firm.

Latest Reads
Zee Telugu announces the comeback of its iconic singing reality show, Sa Re Ga Ma Pa

MUMBAI: With a firm commitment to present fresh and novel content to Telugu viewers, Zee Telugu, leading Telugu General Entertainment Channel in Andhra Pradesh and Telangana, announces the comeback of its most popular music reality show – Sa Re Ga Ma Pa. In search of the best singing talent there...

Television TV Channels Regional
Rishtey enters urban GECs list, dethrones &TV in BARC week 11

Zee Anmol emerged as the leader pushing down Star Bharat to the second position in the Hindi GEC (U+R) region according to Broadcast Audience Research Council (BARC) all India data for week 11 of 2018.

Television TV Channels Viewership
BCCI extends India media rights submission till 3 April

The Board of Control for Cricket in India (BCCI) has extended its last date for submission of bids for the media rights for international and domestic matches at home for the next five years from 27 March to 3 April.

Television TV Channels Sports

Mumbai, 21 March, 2018: News18 REEL Movie Awards, a marquee property with Reliance Digital as the presenting sponsor, celebrated new age cinema like never before in presence of renowned artists, film-makers and producers at the Taj Lands End in Mumbai, yesterday. Personalities such as...

Television TV Shows Awards
Sony MAX2 is back with Season 3 of 'Timeless Digital Awards'

Sony MAX2 ‘Timeless Digital Awards’ is back with its 3rd season to delight its audience with an era of Hindi cinema that is evergreen and holds reminiscence till date. The ‘Sadabahar’ 50’s and 60’s gave birth to several inspiring masterpieces with legendary actors and films that became the voice...

Television TV Channels Movie Channels
The Boss Baby premieres March 25 at 1PM and 9PM

Staying true to the promise to premiere the biggest blockbusters of the year, Star Movies will air Academy Award nominated film, The Boss Baby on Sunday, March 25 at 1PM and 9 PM respectively. Starring the witty Alec Baldwin as Boss Baby along with popular host Jimmy Kimmel as Ted Timothy...

Television TV Channels English Entertainment
Bigg Boss speaks Marathi now

MUMBAI: The Bigg Boss voice is all set to boom in Marathi. Viacom18’s regional entertainment channel, Colors Marathi announced the launch of the Marathi version of India’s popular reality TV show Bigg Boss from 15 April.

Television TV Channels Regional
BARC gets ‘Great Place to Work' certification

MUMBAI: BARC India has been certified as ‘Great Place to Work’ for cultivating a culture of high trust and performance. The certification has been provided by Great Place to Work Institute, which is recognised for its rigorous and objective methodology for identifying and defining great workplaces...

Television TV Channels Viewership
Shemaroo appoints Hiren Gada as CEO in leadership rejig

MUMBAI: Gearing itself for the next phase of growth, Shemaroo Entertainment Ltd (Shemaroo) has restructured its top leadership making several timely appointments.  According to a release on the BSE website, the entertainment and content company has elevated Hiren Gada as the chief executive...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories