Indiabulls Chairman Sameer Gehalut Picks Up 25% In B.A.G Films

Indiabulls co-founder and chairman Sameer Gehlaut is investing in Delhi-based TV and film content company B.A.G Films. Gehlaut is buying around 25 per cent stake in B.A.G Films for Rs 262 million ($5.7 million), reports Indiantelevison.com. Gehlaut has been made a preferential allotment of up to 20,250,000 equity shares of Rs 2 each at a price of Rs 13 per share. Now it’s mandatory for Gehlaut to make an offer for a further 20 per cent stake. If the open offer is fully subscribed, then that could make Gehalut its largest shareholder.
The promoters of B.A.G Films – Rajiv Shukla and Anuradha Prasad – own about 37.5 per cent on the expanded equity currently. According to Anuradha Prasad, MD of B.A. G Films, Gehlaut has come in as a pure financial investor.
B.A.G also plans to invest about Rs 160 million in new media and the animation business.
Recently, IDBI Bank and Bank of Baroda has picked up 10 per cent each in B.A.G Films’ radio venture, B.A.G Infotainment.

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