RELIANCE MEDIAWORKS DELISTING FROM
MARCH 20th ,2014
About
Reliance Mediaworks
Reliance
Mediaworks which is part of Anil Ambani group was initially established as
Adlabs Films limited in 1975 by Manmohan
Shetty. The company began to expand into the film industry and in 2001,
the company entered the multiplex business, setting up the world’s largest 3D IMAX screen in Mumbai.Reliance
MediaWorks operates Big Cinemas , BIG
Synergy,Lowry Digital &
Reliance Mediaworks UK
Big Cinemas is one of India's largest cinema chains with over 425
screens in both India and the United States.
Important Aspects of Delisting:-
Reliance MediaWorks decided to delist their shares
from equity market by offering buy back
shares worth at least Rs 251 crore from public shareholders .
Reliance Capital and Reliance
Land private limited currently collectively owns 73.30 per cent of Reliance
MediaWorks.
They have offered to purchase
51,579,465 shares, representing 26.70 percent stake in Reliance MediaWorks with
Floor price set at 48.56 Rs. per share
which will lead to shell-out Rs. 251 Crore.
Reliance Land holds 54.54 % in the company
Reliance Capital's shareholding is 18.76 % in the
company.
Delisting offer will starts from March 20 to March 26.
ICICI Securities has been appointed as the manager of
the delisting scheme.
On January 20, 2014
Reliance MediaWorks board approved the delisting offer which was later
cleared by the shareholders.
Reliance MediaWorks has been reporting losses for five years
now.
The company last reported a profit
Rs 48 crore in 2007-08.
Reliance Mediaworks Share closed at 56.50 Rs./ Share on 7th March 2014 up by 0.60 Rs. from previous close.
Reliance Mediaworks Share closed at 56.50 Rs./ Share on 7th March 2014 up by 0.60 Rs. from previous close.