Top Story

e4m_logo.png

Home >> Media - TV >> Article

Balaji Telefilms promoters stake down to 52.95 per cent

08-January-2004
Font Size   16
Balaji Telefilms promoters stake down to 52.95 per cent

Following the sale of 25,00,000 equity shares on January 7th, 2004, Balaji Telefilms promoters’ stake has come down to 52.95 per cent from 57.79 per cent, recorded as on September 30, 2003.

The company informed the National Stock Exchange (NSE) that it has sold 25,00,000 equity shares of the company constituting 4.85 per cent of the total equity share capital. Of these, Jeetendra Kapoor sold 5,00,000 shares, which amounts to 0.97 per cent of total equity, and Tusshar Kapoor sold 20,00,000 shares amounting to 3.88 per cent of total equity.

The sale is expected to widen the institutional base. In recent times, the stock of Balaji Telefilms has caught the fancy of the Foreign Institutional Investors (FIIs). The total FII stake has gone up to 13.22 per cent at the end of December 2003 from 9.4 per cent recorded during the second quarter ended September 30, 2003, according to the latest updated shareholding pattern filed with the BSE.

Goldman Sachs Investment (Mauritius) is one such FII that has increased its stake to 4.8 per cent from 1.6 per cent during the quarter. Oppenheimer Funds is another FII that has marginally increased its stake to 3.5 per cent from 3.4 per cent.

In the last few days, Balaji Telefilms shares have been performing well on the bourses. It has moved up 16 per cent from Rs 91.70 on December 15, 2003 to Rs 106.30 on the BSE on January 7, 2004. An increase of 1.38 per cent over the previous day’s close. The scrip touched a 52-Week high of Rs 116 on January 5, 2004 on the BSE.

Although the reason for the selling of the shares is unknown, industry sources and media analysts say that probably they have done so to garner funds for their film company Balaji Films. “Now is the best time to sell as it’s a bull market,” says an analyst from a foreign brokerage.

Balaji Films is an unlisted company promoted by Jeetendra Kapoor and Tusshar Kapoor and is engaged in film production and distribution. The company, which was floated in 2002, has released three films under its banner. Krishna Cottage, another thriller is due for release in February 2004.

Balaji Films has exciting plans for 2004. On the anvil are six projects, which go on floor one after another, says R Kartik, Chief Operating Officer, Balaji Films. He reveals that Balaji Films has signed on six directors, Sangeeth Sivan, Partho Mitra, Vikram Bhatt, Satish Kaushik, Abbas-Mustan and Rajkumar Santoshi who will now take charge of these six upcoming projects.

The company has yet to zero in on the star cast for these projects and is also scouting for funds. Karthikeyan says, “All these are small to big budget films. We are open to co-productions but so far have not decided on anything.”

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Shaan Raza, Deputy Managing Director, Optimise, spoke to exchange4media about their journey since inception and their new technology, TrackingX, which they are planning to launch in India by February...

Meanwhile, Radio City and Radio Mirchi ruled Bangalore and Kolkata respectively

The Indian out-of-home advertising company selects Edge1's ERP software platform to automate their OOH business