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Tag: GV Films

  • GV Films to allot equity shares up to Rs 1 billion

    GV Films to allot equity shares up to Rs 1 billion

    MUMBAI: GV Films Ltd has decided to allot equity shares on preferential basis up to Rs 1 billion to BNP Paribas and their sub-account holders acting through them as their depository.

    Further each of the allottee is also entitled for subscription of up to three warrants of the face value of Rs 1 each per equity share (or on consolidation of equity share, each equity shares of Rs 10 each) allotted to them in such a way that the total allotment of warrants will not exceed the value of Rs 3 billion.

    GV Films also informed the BSE that the Board has approved the acquisition of the Ahmedabad-based Safroni Entertainment Ltd for consideration other than cash by issue of equity shares of the Company for a sum not exceeding by Rs 150 million. The Board has formed a committee to do the due diligence including valuation to take the proposal forward. The Board has also accordingly amended the notice to the shareholders to be convened on 11 July.

  • GV Films to acquire majority stake in Singapore-based Tamil channel

    GV Films to acquire majority stake in Singapore-based Tamil channel

    MUMBAI: GV Films will be acquiring 70 per cent stake in Tamil Box Office, a Singapore based satellite movie channel that is currently owned by Pixei Box Office Pte Ltd. 

    “We are planning to acquire about 70 per cent in the channel. We already have the funds and the additional funding, if required, will be done through a second round of placements – via FCCB and preferential allotment of shares. The content for the channel will mainly come from the GV Films movie library,” says GV Films chairman Mahadevan Ganesh. 

    Ganesh said that the channel would be promoted globally after the acquisition. The acquisition of Tamil Box Office will mark the production house’s foray into the broadcast business.