Bodhi Tree Multimedia Limited has informed the Exchange regarding 'Update on Completion of acquisition of equity stake in Moving Image Studios Private Limited.'.
BTML · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bodhi Tree Multimedia Limited has completed the acquisition of a 50.01% equity stake in Moving Image Studios Private Limited (MISPL), a Media and Entertainment company based in Bandra West, Mumbai. The company purchased 10,004 equity shares at a price of Rs. 6,998.60 per share (face value Rs. 10 + premium of Rs. 6,988.60), taking the total deal value to approximately Rs. 7 crore (Rs. 7,00,13,994.40). With this acquisition, MISPL has now become a subsidiary of Bodhi Tree Multimedia, and the company has also acquired control. Additionally, BTML plans to invest a further Rs. 6 crore into MISPL through convertible instruments, which is currently in process. The transaction is not a related-party deal, and no government or regulatory approvals were required for the deal to close.
This acquisition will result in consolidation of MISPL's financials into BTML's books going forward. While the deal size of Rs. 7 crore is modest, it signals a strategic expansion into the media and entertainment space and gives BTML a controlling subsidiary, which could be positive for long-term growth if MISPL performs well.