UFO Moviez India has received approval from its board of directors for purchase of 10,000 equity shares (4.03% shareholding) of UFO Software Technologies (USTPL), a subsidiary company of the Company from other shareholders of USTPL at a total considetation of Rs 100,000. Post the acquisition, the Company will hold 100% of issued and paid-up equity share capital of USTPL.
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).
