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.
Company Name | CMP |
---|---|
PVR | 1292.40 |
Saregama India | 433.45 |
Eros Internatl.Media | 20.35 |
Shemaroo Entertain. | 154.00 |
Balaji Telefilms | 71.50 |
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