Film and television software production house K Sera Sera Productions today said its board has approved investment of surplus funds in buying the franchise of an Indian Premier League (IPL) team.
The board of directors has approved the company's bid for a franchise in IPL team and thereby investing surplus fund of the company, K Sera Sera said in a filing to the BSE.
The board has also authorised Sanjay Lai, the managing director of the company to review and if found feasible take part in the bidding process for the acquisition of IPL team, the filing added.
Further, the board has authorised Lai, to look for avenues for the growth through acquisition in stable, long term, branded businesses with strong revenue patterns.