Star Network's Balaji exit sparks excitement in entertainment space: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, K R Choksey Securities, talks about Balaji Telefilms post reports that Star Network has exited the company by offloading its entire 25.99 per cent stake.

ET Now: Star exiting Balaji Telefilms is a big deal. While one strategic investor actually finds its way out, you have had a fair number of institutions buying into the stock. Which way would you look at the story?

Deven Choksey: The prospective does not change as far as the production business is concerned — in TV serial and film-based activities.
It is definitely a deal which has probably created a good amount of excitement in the minds of those investors, who have been looking at the entertainment space relatively more closely. This particular offloading of stake has for sure given some amount of entry points to some of the funds who have been looking at acquiring into the stake into this particular business.

I do not know beyond a point as to how much it would translate into the financials of the company, but at the same time I would like to believe that production would remain a distinct advantage to those who have been able to corner good qualityprogrammes in the past. So, definitely they would probably have continued advantage on that front. Investors would have the idea in their portfolio which would largely be related to the production space, into the entertainment area of activity.