Reliance Capital has hiked stake in Reliance MediaWorks to 18.42 percent by acquiring additional shares worth Rs 83.50 lakh. Reliance Capital bought one lakh shares, or 0.21 percent in Reliance MediaWorks on November 23 and 24. The promoter group firm bought additional stake through open market purchase. Prior to this, Reliance Capital held 18.21 percent stake in Reliance MediaWorks.
Both companies are a part of the Anil Ambani-led Reliance Group. Reliance MediaWorks currently has a dominant and comprehensive presence in film services - motion picture processing and DI, visual effects, animation, film restoration and image enhancement, 3D, digital mastering, studios and equipment rentals with presence across India, USA, UK and Japan.
Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking, depository services, distribution of financial products, investment banking, wealth management services, commercial finance, exchanges and other activities in financial services.
