Television

Balaji Telefilms? promoters up stake to 47.29% post Star India's exit

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MUMBAI: After Star's stake sale of 25.99 per cent in Balaji Telefilms Limited (BTL), the company's promoters Shobha and Ekta Kapoor have acquired 28,43,000 equity shares at Rs 63.60 per equity share. With this, the promoters have upped their stake in BTL from 42.93 per cent to 47.29 per cent.

Prior to the acquisition, Shobha Kapoor held 14 per cent stake in BTL, which has now been upped to 15.31 per cent (99,82,462 equity shares) post the acquisition of shares from Star Middle East FZ-LLC.

On the other hand, Ekta Kapoor's shareholding in the company has increased to 23.87 per cent (1,55,62,704 equity shares) from the previous 20.81 per cent post the share acquisition.

Balaji Telefilms group CEO Sameer Nair also acquired 416,000 equity shares, which takes his current holding in the company to 1.06 per cent (692,729 equity shares).

Balaji Telefilms Limited managing director Shobha Kapoor said, "Balaji Telefilms has in place a very strong growth platform in both the television and motion pictures segments. We are very optimistic about our growth outlook that is being driven by a highly capable leadership team. This transaction is reflective of our confidence in the company and its growth story."

Nair added, "We have already embarked upon several exciting strategic initiatives, which we believe will translate into improved operating and financial performance. We are also very well poised to capitalise on the several opportunities opening up in the media industry."

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