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Reliance MediaWorks eyeing to raise Rs 500 crore by March

15 Dec 2011 Evaluate

Reliance MediaWorks, India’s fastest growing film and entertainment services company, in an effort to reduce debt, is eyeing to raise around Rs 500 crore by March. The company controlled by billionaire Anil Ambani plans to raise money through right issue, which it had announced previously.

The company is also in talks with global private equity firms and other investors to raise Rs 400-500 crore. The film and entertainment services company has a total debt of around Rs 1,500 crore. The company hopes, the two fund-raising exercises will cut its debt equity ratio by a third to 1.2 to 1 by next year.

Reliance Mediaworks has three main businesses - a theatre distribution operation under BIG Cinemas, a TV production unit under BIG Synergy, and a film and media services segment.

Peers
Company Name CMP
PVR 938.05
Saregama India 344.55
Shemaroo Entertain. 105.35
Balaji Telefilms 94.39
UFO Moviez 72.06
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