Ram Kaashyap Investment has received an approval to acquire 100% equity stake in Gemmia Worldwide S.A. based on the valuation report issued by the international reputed valuer - Vicarage Capital, London. The company received the approval at its board meeting held on August 03, 2011 where the board decided to acquire the company for a consideration of $150 million to be paid in the form of GDRs and FCCBs.
Gemmia Worldwide S.A. is engaged in oil sludge treatment, oil reservoir cleaning services and technologies, and miscellaneous clean technology development with assets and activities across Russia, USA, India, China and South-East Asia.
Ram Kaashyap Investment is involved in business of investment and securities trading along with trading in overseas rights of south Indian films, operating Tamil Box Office (TBO) - a 24 x 7 Tamil movie channel, web streaming of south Indian movies and other content, animation and gaming and trading in overseas rights of south Indian films.
