jay vithlani
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Big brother Mukesh Ambani made his big entry into the media, entertainment and internet world through his acquisition of Network18 Media Investments Ltd a few months earlier. Younger brother Anil Ambani has decided to go the other way.
Reliance Capital (R-Cap), through which the group has made investments in the media, entertainment and internet space, is slowly but substantially reducing its exposure in companies in this arena, through a series of sell-offs.
The move is part of R-Cap’s decision to monetise assets which are not in their core area of business, as part of a restructuring exercise. For instance, it had invested in TV Today Network Ltd a publicly listed company promoted by Aroon Purie, which controls TV channels Aaj Tak and Headlines Today. This was a little over seven years ago and it had a peak equity exposure of around 14.9 per cent. In recent months, it has slowly reduced its stake, the latest being in the first week of this month, when it offloaded nearly 4,80,000 shares for Rs 7.38 crore in the open market. With this, R-Cap’s stake in the company has fallen to five per cent.
Anil Ambani shedding stake in media | Business Standard News
credit- bishnu bro
Reliance Capital (R-Cap), through which the group has made investments in the media, entertainment and internet space, is slowly but substantially reducing its exposure in companies in this arena, through a series of sell-offs.
The move is part of R-Cap’s decision to monetise assets which are not in their core area of business, as part of a restructuring exercise. For instance, it had invested in TV Today Network Ltd a publicly listed company promoted by Aroon Purie, which controls TV channels Aaj Tak and Headlines Today. This was a little over seven years ago and it had a peak equity exposure of around 14.9 per cent. In recent months, it has slowly reduced its stake, the latest being in the first week of this month, when it offloaded nearly 4,80,000 shares for Rs 7.38 crore in the open market. With this, R-Cap’s stake in the company has fallen to five per cent.
Anil Ambani shedding stake in media | Business Standard News
credit- bishnu bro
