GECs
Blackstone to invest $ 275 million in Ramoji
MUMBAI: In the single-largest investment in Indian media, global private investment firm Blackstone Group has announced it will be pumping in $ 275 million (approximately Rs 12.38 billion) to acquire a stake in Ushodaya Enterprises Limited (UEL), the holding company that manages Ramoji Rao’s media assets.
While yesterday’s announcement gave no details on the quantum of the stake that Blackstone would be taking in the south Indian media baron’s closely held company, media reports have put it at 26 per cent. This would put UEL’s enterprise valuation at $1.06 billion.
In addition to the $ 275 million that UEL is raising from Blackstone, it is also taking $190 million of bank financing, bringing the total financing it expects to raise to $465 million. As part of the agreement, Blackstone will have representation on the Board of UEL.
The transaction is subject to regulatory approval by Foreign Investment Promotion Board (FIPB) and the information and broadcasting ministry.
UEL chairman Ramoji Rao stated, “We were impressed with Blackstone’s disciplined and highly rigorous investment process and the ability to combine this emphasis with a deep and genuine respect for the promoter’s interests and desire to add value. The company had access to several financing options, including an IPO; but we decided to go with Blackstone because we believe that at this stage of our growth we have an opportunity to create significant value by leveraging Blackstone’s outstanding experience and track record in the global media sector.”
Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, stated, “We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India’s economic expansion which in turn will spur advertising growth. Importantly, we believe that UEL is an ideal platform for Blackstone to play this highly attractive sector in India..”
Kotak Investment Banking acted as the sole investment banking advisor to the transaction.
UEL owns Eenadu, the third largest newspaper, and ETV, the fourth largest private television broadcasting network in the country. The parent company of UEL, Ramoji Group, owns the 1,600-acre Ramoji Film City, which is Asia’s largest studio, apart from diversified interests in hotels, foods and financial services.
The Blackstone Group is a global private investment and advisory firm that has has raised a total of more than $75 billion for alternative asset investing since its formation of which over $30 billion has been for private equity investing
GECs
Sony PAL to air Sankat Mochan Hanuman from May 4 at 9 PM
Mythological series brings Lord Hanuman’s tale of devotion and courage back to TV
MUMBAI: Sony PAL is set to bring back the timeless mythological series Sankat Mochan Hanuman, with its premiere scheduled for May 4 at 9 PM. The show revisits the legendary journey of Lord Hanuman, offering viewers a chance to reconnect with one of Indian mythology’s most revered figures.
Centred on themes of devotion, courage and righteousness, the series traces Hanuman’s unwavering loyalty to Lord Ram and his fearless stand against evil. With its mix of dramatic storytelling and visually rich sequences, the show aims to deliver both entertainment and spiritual resonance, appealing to audiences across age groups.
The narrative unfolds as a larger-than-life saga, positioning Hanuman as the ultimate protector and a symbol of strength and selfless service. His journey, rooted in faith and duty, continues to strike a chord with viewers, making the series as relevant today as ever.
The cast features Gagan Malik as Lord Ram, Debalina Chatterjee as Sita, Nirbhay Wadhwa in the titular role, and Saurav Gurjar as Raavan. Their performances bring depth and authenticity to characters deeply embedded in Indian cultural memory.
With its return to television, the show is positioned as more than just a rerun. It taps into a renewed appetite for mythological storytelling, blending nostalgia with timeless values.
As audiences increasingly seek content that resonates beyond entertainment, ‘Sankat Mochan Hanuman’ offers a familiar yet powerful narrative, reminding viewers that stories of faith and courage never really go out of style.
