Hindi
Tips makes buyback offer
MUMBAI: Sending strong signals to the market that the music and movie company is on a major growth curve, Tips Industries said Wednesday it intends to buy back shares at a premium from its prevailing price.
The buyback offer price would not exceed Rs 75 per share, Tips said. The shares of Tips rose 6.24 per cent to close today at Rs 50.25 on the BSE.
Tips said that the amount would not exceed Rs 198.10 million, being 25 per cent of aggregate of paid-up equity capital and free reserves of the company as on 31 March 2009.
The offer will open on 17 March and close on 23 August. “The proposed buy back is expected to lead to reduction of outstanding equity shares, which may in turn increase the earnings per share and return on equity of the company in future, thereby creating long-term shareholder value for the continuing shareholders. The proposed buy-back is also a reflection of confidence of the management in the future growth prospects of the company,” Tips said.
Tips’ promoters currently hold 9.52 million shares, representing 54.99 per cent of the company. Post buy back, promoters‘ holding will increase to 64.9 per cent. Also, the promoters will apply for exemption from making an open offer as required by regulation 11 of the Takeover Regulations after completion of buy back of such number of Equity Shares by the Company, which would result in an increase of 5 per cent voting rights in the company.
Collins Stewart Inga is managing the issue for Tips.
Tips produced the latest hit Ajab Prem Ki Gajab Kahani. The company posted a net profit of Rs 114.54 million on a turnover of Rs 662.98 million for the fiscal ended 31 March 2009.
Hindi
Hansa Entertainment launched to produce across OTT, TV and film
New venture from R K Swamy Hansa Group eyes multi-language stories for digital-first audiences.
MUMBAI: Hansa Entertainment has just stepped into the spotlight because when a legacy media house decides to script its next act, even the credits get excited. Hansa Entertainment Private Limited has been incorporated to develop and produce original programming across digital, television, OTT platforms and theatrical features. The company will create short-running series, long-running series and original films for OTT, alongside standout theatrical ventures. It will also launch a podcast platform called Hansa Spotlight and produce content for the fast-growing vertical drama format. Stories are initially planned in Hindi, Tamil, Telugu, Malayalam, Bengali and Kannada.
The venture is founded by Sruti Swamy and Siddharth Swamy, drawing on the rich legacy of Hansa Vision and the broader R K Swamy Hansa Group. Sruti brings creative expertise with a master’s in architecture, interiors and design from Milan and a postgraduate degree in business management from the Indian School of Business. Siddharth contributes a data-driven perspective, having studied data science at Imperial College London.
Sujatha Narayanan has been appointed CEO of Hansa Entertainment. With over two decades of experience in creative content curation and production across film and OTT, she is also a well-known film columnist and media entrepreneur.
R K Swamy Hansa Group executive chairman Srinivasan Swamy said, “The launch of Hansa Entertainment marks an exciting new chapter. The new entity is the brainchild of the next generation and will be independently managed by Sruti Swamy, who is the Director and the newly appointed CEO.”
Hansa Entertainment director Sruti Swamy added, “I am very optimistic about the future of Hansa Entertainment, given the content explosion and the opportunities offered by new technologies for production.”
Hansa Entertainment director Siddharth Swamy noted, “The idea is to grow a contemporary production house that creates compelling stories for today’s multi-platform audiences while drawing inspiration from the rich storytelling traditions that audiences have appreciated over the years.”
Hansa Entertainment CEO Sujatha Narayanan said, “Hansa Entertainment will evolve as a story-first, IP-driven entity. We have already put together a smart team of interesting and dynamic creators who will helm our vertical dramas, shows and films.”
In the ever-evolving world of Indian entertainment, where stories now travel faster than the scripts that birth them, Hansa Entertainment is stepping onto the stage with fresh ink and big ambitions proving that even the best legacies know when it’s time for a compelling sequel.
