Disclosre under Regulation 30 of SEBI (LODR) Regulation 2015
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Filmcity Media Ltd's Board has approved amending the main objects clause of the company's Memorandum of Association (MOA) to add two new sub-clauses. The first new clause allows the company to enter the real estate business — including construction, housing development, townships, hotels, and property dealing. The second enables the company to promote and distribute financial products and services such as equity, debt, and mutual funds. Shareholder approval will be sought via a Postal Ballot before the changes take effect. This represents a significant diversification from the company's current media operations into real estate and financial services.
This is a major business diversification move. If shareholders approve, Filmcity Media will effectively pivot from its media identity into real estate development and financial product distribution, which could reshape its revenue mix and valuation. Near-term stock reaction is likely to be neutral until concrete execution plans or deals are announced.