Top Story

Home >> Media-TV >> Article

BAG Films and Media’s FDI proposal gets FIPB clearance

22-January-2008
Font Size   16
BAG Films and Media’s FDI proposal gets FIPB clearance

The Foreign Investment Promotion Board (FIPB) has given its nod to the much awaited FDI proposal of BAG Films and Media Pvt Ltd for induction of foreign investment and equity for its upcoming four channels. The proposal has now been forwarded to the Finance Ministry for approval.

BAG had earlier sent files for two proposals – one was for induction of foreign investment, the other was to get in foreign equity via the Foreign Currency Convertible Bond (FCCB) route.

The raised amount would be towards meeting Capex requirements for its proposed TV channels. The company has invested around Rs 400 crore in its broadcasting business. BAG has plans to raise around Rs 140 crore through an FCCB issue.

Mauritius-based foreign institutional investor Fidelity (FID Funds Ltd) had announced its intention to take a 10 per cent stake in BAG Films and Media in September 2007. The investment is to the tune of Rs 62 crore.

Confirming the development, Anurradha Prasad, MD, BAG Films and Media, said, “We have received the FIPB clearance; we are waiting for the approval of the Finance Ministry.”

BAG has already launched its Hindi news and current affairs channel News24, while the second of the four proposed channels, E24, which would be an entertainment related channel, is expected soon. Thereafter, the company would go for the remaining two channels – Life24, a glamour and lifestyle channel, and Bliss24, a wellness channel.

Tags

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

Shantanu Gangane says OTT platform Viu plans around 20+ originals and is all set to enter the Tamil market with a mix of syndicated and original content

right
left
BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS TOP INDUSTRY PERSONALITIES ATTEND ZOOM-MYNTRA EVENING TO CELEBRATE THEIR PARTNERSHIP LEADING MARKETERS, EXPERTS SHARE INSIGHTS ON DIGITAL TRANSFORMATION @ADOBE SYMPOSIUM IN MUMBAI NICKELODEON TRADE PARTY SEES MARKETING INDUSTRY LEADERS AND THEIR FAMILIES IN ATTENDANCE GOLDEN MIKES RADIO ADVERTISING AWARDS 2018 RECOGNIZE INDUSTRY’S MOST DESERVING ACHIEVERS AIMA MANAGING INDIA AWARDS HONOUR THE BEST IN THE INDUSTRY BW BUSINESSWORLD’S GREAT INDIA DEBATE BRINGS TOGETHER INTELLECTUALS ACROSS INDUSTRY SECTORS BW BUSINESSWORLD SMART CITIES CONCLAVE PATNA 2018 SEES EMINENT INDUSTRY LEADERS IN ATTENDANCE EMINENT JURY PICKS WINNERS OF GOLDEN MIKES RADIO ADVERTISING AWARDS MADDYS 2018 SEE TOP ADVERTISING AND MARKETING INDUSTRY LEADERS IN ATTENDANCE LOKMAT MAHARASHTRIAN OF THE YEAR AWARDS 2018 RECOGNIZE EXCEPTIONAL TALENT CNBC-TV18’S INDIA BUSINESS LEADER AWARDS HONOUR HIGH-ACHIEVERS, OUTSTANDING LEADERS AND TOP VISIONARIES

Gaurav Dua talks to exchange4media about the brand's re-branding, marketing strategy, future plans and much more

The brand through its campaign is helping Indian professionals imbibe the new work-culture while making an effortless style statement at their workplace

In this campaign, the brand MRF tyres intends to communicate their proposition of 'comfort made more comfortable'