Adlabs Films surges on Dreamworks deal
Shares of Adlabs Films were in the limelight Thursday after the ADAG group joined hands with Steven Spielberg's DreamWorks Studios.
By ET Bureau |
MUMBAI: Shares of Adlabs Films were in the limelight Thursday after the ADAG group joined hands with Steven Spielberg's DreamWorks Studios.
Anil Ambani made his debut in Hollywood film production roping in ace directors Steven Spielberg and Stacey Snider for a joint venture where he would initially pump in Rs 4,000 crore.
Dubbing the deal as a "game-changing event", Ambani has said he was looking at reaching out to the global audience and India's teeming youth through this venture.
Under the terms of the deal, which could allow DreamWorks to make five to six films a year, ADAG group would match whatever financing DreamWorks can get from a syndication of banks.
The $825 million funding slate announced by Reliance would break down as $325 million from the Indian conglomerate, $325 million from the banks and $175 million from Disney.
But the total amount could change if DreamWorks raises more from banks. That would increase the matching equity investment from Reliance, which has agreed to provide up to $550 million.
ADVERTISEMENT
At 12:30 pm, shares of Adlabs Films were up 13.68 per cent at Rs 336.90 on the BSE.Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
