News Star exits Balaji Telefilms, unloads 25.9% stake for Rs 108 cr

[Deepu]

Rupert Murdoch-owned Star network, has exited the Indian production powerhouse Balaji Telefilms Ltd (BTL) by offloading its entire 25.99 per cent holding in the Ekta Kapoor company for Rs 108 crore (Rs 1.08 billion). The holding company Star Middle East FZ LLC, a wholly owned subsidiary of 21st Century Fox, sold 16.9 million shares at a discounted price of Rs 63.60 per share via block deal at the Metropolitan Stock Exchange of India (MSEI). Star first picked up 21 per cent stake in BTL in August 2004 for Rs 90 per share, after which it increased it to 25.9 per cent through an open offer. While the buyer is yet to be disclosed, BTL share price saw a massive 19.96 per cent jump and hit the upper circuit (Rs 95.25 apiece) in early trade on BSE.

Read more at: http://www.televisionpost.com/television/star-exits-balaji-telefilms-unloads-25-9-stake-for-rs-108-cr/ | TelevisionPost.com

 

[scorpionking76]

I was not aware that Star has invested in Ekta Kapoor's BTL, Thanks for the information Deepu bro

 

[DashMajor]

Even I won't

 

[Sanjeev]

Was it because of this that so many balaji shows were shown on Star Plus

 

[Technoglitch]

the bond between ekta and star india reached such that the latter bought some stakes.

 

[IndianMascot]

Now Balaji need to find new investors.

 

[whitebunny]

Atleast No more saas bahu and crap serials on star plus. We might see some good serials coming on star..

 

[IndianMascot]

Hoping Saas-Bahut serials to be permanently eliminated from Indian Television.