Balaji Telefilms Ltd today said it will buy a majority 51 per cent stake in Marinating Films.
The company, however, did not reveal the amount for which it will acquire majority stake in Marinating Films Pvt Ltd.
"The company has signed a share purchase agreement with Marinating Films Pvt Ltd (MFPL) on December 3, 2014, and by virtue of this agreement the company will purchase and hold 51 per cent of the paid-up equity share capital of MFPL," Balaji Telefilms said in a filing to the BSE.
MFPL is the owner of the concept, format and all proprietary rights and intellectual property rights in Box Cricket League, The Indian Telly Calender and Indian Telly Style Awards and organises BCL, ITC and ITSA on a yearly basis.
In October this year, Ekta Kapoor-promoted Balaji Telefilms also signed a Limited Liability Partnership pact with Select Media Holding Pvt Ltd to form an event management firm, Event Media LLP.
Event Media will be engaged in organising and/or managing all kinds of events, including events relating to film and TV industry including creation of new intellectual property or value addition.
Shares of Balaji Telefilms closed up by 4.04 per cent at Rs 74.70 apiece on the BSE today.
