 "Reliance Industries to pick 25% in Balaji Telefilms for Rs 413 cr")
Mukesh Ambani-led Reliance Industries (RIL) has said it would buy a 24.9 per cent stake in Balaji Telefims for an investment of Rs 413.28 crore. RIL's board has approved the transaction that would include acquiring 2.52 crore equity shares of Balaji at Rs 164 per unit.
Dharmesh Mehta, managing director of Axis Capital, which acted as the sole investment banker for the transaction, said that the deal was a win-win for both players since it gave RIL access to content and Balaji to subscribers.
In April, Balaji launched its video-on-demand service ALTBalaji. The company had pumped close to Rs 40-50 crore in
