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Tag: Adlabs Films

  • Adlabs Films to list demerged radio business, swap ratio at 2:1

    Adlabs Films to list demerged radio business, swap ratio at 2:1

    MUMBAI: Adlabs Films Ltd (AFL) board has approved the proposal for demerger of its FM radio business to a wholly owned subsidiary.

    According to the scheme, the shareholders of Adlabs will get two shares of the new company for every new share held. The new entity will be listed on the stock exchange, the company said in a release.

    The scheme also envisages amalgamation / merger of two AFL subsidiaries, Entertainment One India LTD and Mukta Adlabs Digital Exhibition Pvt LTD, with itself. “The aforesaid scheme will be subject to all requisite permissions, sanctions and approvals including, inter alia, of share holders, lenders, stock exchanges, High Courts, regulatory authorities,” the company said in a release.

    Adlabs had made its debut in film production in the year 2002 through its 100 per cent subsidiary Entertainment One India Ltd. A year later, the company entered into a 50:50 join venture with Mukta Arts for digital delivery of movies.

    Adlabs board has also recommended a dividend of 45 per cent (Rs 2.25 per share) for the year ended 31 March 2006, subject to approval at the ensuing annual general meeting.

  • Adlabs board to meet on FM radio demerger on 22 April

    Adlabs board to meet on FM radio demerger on 22 April

    MUMBAI: Anil Dhirubhai Ambani Enterprises (ADAE) controlled Adlabs Films is holding a board meeting on 22 April to discuss the demerger of its FM radio business.

    As reported last month by Indiantelevision.com, ADAE has sought government clearance for bringing all the radio business under a division — Adlabs Radio Pvt Ltd.

    The company has informed the Bombay Stock Exchange that the board will “consider the proposal for the reorganisation of the Company and demerger of its FM Radio business pro-rata to all the shareholders, pursuant to a scheme of arrangement under sections 391-394 of Companies Act, 1956.”
    According to a recent PTI report, ADAE had further increased its stake in Adlabs Films to 54.91 per cent after the acquisition of an additional 3.8 million shares.

    Reliance Land Private Limited, along with Reliance Capital Limited acquired these shares on 12 April, Adlabs Films has informed the stock exchanges.
    The mode of acquisition has been preferential allotment (conversion of warrants to equity), it said. With this latest acquisition, Reliance Land and Reliance Capital now own 21,855,000 shares aggregating to 54.91 per cent of the total paid up capital of the company.

    Reliance Land, a part of the Reliance Capital Group, last year had acquired 51 per cent controlling stake in Manmohan Shetty’s Adlabs Films, a leading motion picture processing laboratory which also runs a chain of multiplexes.