UFO Moviez India has received approval for an investment of up to Rs 20 crore by way of convertible instruments over a period of three years in Cinestaan Digital (CDPL). Percentage of shareholding is up to 62.50% of equity share capital of CDPL post conversion of instruments. CDPL has platforms that are synergetic to the business of the Company. The Board of Directors of the Company at its meeting held on December 20, 2019 has approved the same.
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).
