RELIANCE ACQUIRES 25% STAKE IN BALAJI TELEFILMS FOR RS 413 CRORE

Impact - - THE WEEK THAT WAS -

Reliance In­dus­tries Ltd (RIL) ac­quired a 24.92% stake in film and tele­vi­sion pro­duc­tion house Balaji Telefilms Ltd in a deal worth

Rs 413.28 crore. The Board of Di­rec­tors of Balaji Telefilms Lim­ited ap­proved this in­vest­ment through

a pref­er­en­tial is­sue of eq­uity shares. This trans­ac­tion is ex­pected to fur­ther ac­cel­er­ate the grow­ing trend of me­dia con­sump­tion ‘on-the-go’. The pro­ceeds from the trans­ac­tion would be uti­lized

to fur­ther speed up con­tent de­vel­op­ment ini­tia­tives, es­pe­cially for ALT, thereby pro­vid­ing it with a strong abil­ity to com­pete with other OTT ser­vice providers - both

global and In­dian. Com­ment­ing on the trans­ac­tion,

Jee­tendra Kapoor, Balaji’s Chair­man said, “We wel­come Reliance In­dus­tries Lim­ited as a part­ner in our growth jour­ney to­wards be­com­ing the pre­ferred con­tent pro­ducer for the In­dian

di­as­pora across all means of video con­sump­tion and across all

ge­ogra­phies.

For­mer Prime Min­is­ter of In­dia, Dr Man­mo­han Singh with Vi­jay Darda, Chair­man, Lok­mat Me­dia, Vice Pres­i­dent of In­dia, Hamid An­sari and for­mer Union Min­is­ter, Venka­iah Naidu fe­lic­i­tate vet­eran par­lia­men­tar­ian and for­mer deputy

Prime Min­is­ter, LK Ad­vani with the Life­time Achieve­ment Award at the Lok­mat Par­lia­men­tary Awards in Delhi

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