GV Films to acquire Safroni Entertainment
Chennnai-based GV Films Ltd has decided to acquire Ahmedabad-based multiplex operator Safroni Entertainment Ltd for Rs 15 crore.
By PTI |
MUMBAI: Chennnai-based GV Films Ltd has decided to acquire Ahmedabad-based multiplex operator Safroni Entertainment Ltd for Rs 15 crore.
At the recently held meeting, the board approved the proposal to acquire Safroni, which holds six multiplex screens and a food court on four and a half acres of land at Ahmedabad.
This buy-out is in line with the company's plans to acquire multiplex theatres, GV Films informed the Bombay Stock Exchange.
The board has also decided to raise Rs 100 crore through the allotment of equity shares on preferential basis to Hong Kong-based BNP Paribas and their sub-account holders acting through BNP Paribas as their depository on behalf of them.
At the recently held meeting, the board approved the proposal to acquire Safroni, which holds six multiplex screens and a food court on four and a half acres of land at Ahmedabad.
This buy-out is in line with the company's plans to acquire multiplex theatres, GV Films informed the Bombay Stock Exchange.
The board has also decided to raise Rs 100 crore through the allotment of equity shares on preferential basis to Hong Kong-based BNP Paribas and their sub-account holders acting through BNP Paribas as their depository on behalf of them.
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