UFO Moviez India has purchased 6,80,117 equity shares constituting 15.82% stake in Southern Digital Screenz India (SDS), a subsidiary company of the company, from the existing equity shareholders of SDS at a total consideration of Rs 14 crore. After completion of share transfer formalities, SDS will become wholly owned subsidiary of the company.
SDS has rolled out UFO-M4 digital cinema solutions in the four southern states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
UFO Moviez India was incorporated as ‘Valuable Media’. The company is India’s largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens).
