SAB Group Completes Business Recast, Keen to List 2 New Cos
Mumbai: The Sri Adhikari Brothers (SAB) Group, owned by Gautam and Markand Adhikari, has completed its business restructuring and is ready to list two new resulting companies — TV Vision and SAB Events & Governance Now (SAB Events) — on the bourses.
These are in addition to the existing listed entity, Sri Adhikari Brothers Television Network.
“We have filed the listing papers for the two companies after getting all the statutory and regulatory approvals. It should be done in a month’s time,” SAB Group managing director Markand Adhikari told ET.
“TV Vision will house all the broadcasting business, while the publishing and events business will be a part of SAB Events. SABTNL will hold all the content and IPs of the group, including the digital business.”
The group is set to invest .₹ 400-500 crore in expanding the television, film production and distribution and digital businesses over the next three years. “We have set an ambitious growth plan. While we are going to launch four new TV channels, including a national Hindi general entertainment channel in comedy genre, we are also investing in digital and film business,” Adhikari said. While the company is weighing in multiple options to raise money, Adhikari is hopeful that internal accruals and debt will take care of the fund requirement.
As part of restructuring, SAB Group merged all its five existing channels — Mastiii (Hindi music), Dabangg (Bhojpuri), Maiboli (Marathi), Dhamaal Gujarat (Gujarati) and Dillagi (Hindi entertainment channel for towns with less than1lakh population) into TV Vision. All the upcoming channels will also be housed under TV Vision.
“First, we will launch a channel Se7en (pronounced Seven) for the Northeast audience. It will be an English music channel with some music-related content sourced locally. Next in line is humour-centric Hindi entertainment channel Happii, which will be on air by the end of 2016. We are also going to expand our footprints with the launch of Bengali and Punjabi entertainment channels,” group chief executive Manav Dhanda said.