GECs
Reliance Capital set to buy Adlabs
MUMBAI: Anil Ambani looks to be in a mighty hurry to carve out a telecom and entertainment empire, soon after splitting from his brother Mukesh. His latest move in what has been a high octane week: The acquisition for Rs 3.50 billion ($83 million) of a 51 per cent controlling stake in Adlabs Films, a leading motion picture processing laboratory which also runs a chain of multiplexes.
The acquisition will be made through Reliance Land Pvt Ltd (RLPL), a part of the Reliance Capital group. “Reliance Land proposes to acquire Adlabs Films, subject to applicable SEBI takeover regulations, and shareholder and other approvals, as may be necessary, at an estimated investment of Rs 350 crore,” an official release says.
A Reliance spokesperson added: “Pursuing the large opportunity to infuse capital and provide management bandwidth to promising companies as a planned strategy of growth, we are proposing to acquire Adlabs, a leading company in the entertainment sector.”
According to information available with Indiantelevision.com, Reliance will make an open offer for 20 per cent stake. Reliance Capital already holds 5.84 per cent in Adlabs.
Reliance Land proposes to buy out founder promoter Vasanji Mamania’s entire 31.51 per cent stake in Adlabs Films for Rs 1 billion, it is learnt. The balance will be through preferential allotment for Rs 2.50 billion. As per available information, founder-promoter Manmohan Shetty will continue to hold stake in the company. Shetty currently holds 31.51 per cent stake in Adlabs Films.
Official confirmation was not available on this though. Attempts to contact Shetty for his comment proved futile till the time of filing this report.
According to earlier reports, Reliance Capital has acquired a 15 per stake in Prime Focus, a Mumbai-based TV and film editing company.
With Reliance Infocomm under his control after the split, Anil is planning to line up entertainment content through acquisitions before he rolls out triple play (voice, data and video)services. Reliance Energy, his other company, has already applied for direct-to-home license.
ADLABS SHARES HIT 20% CIRCUIT BREAKER AT Rs 240.60
Adlabs Films hit the 20 per cent circuit breaker, fuelled by the news that Reliance Capital group company was acquiring controlling stake. The scrip opened at Rs 200 and closed at Rs 240.60.
Interestingly, the Adlabs stock has been gaining since Monday on the back of interest from institutional investors.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
