Indiabulls to reorganize businesses; may hive off broking biz into a separate entity

Indiabulls Financial Services is reorganizing its businesses. This will include the de-merger of its brokerage services known as Indiabulls Securities. The Indiabulls board has considered the proposal involving the de-merger of Indiabulls Securities on a going-concern basis and plans to list the resultant entity after the de-merger. Indiabulls also proposed the amalgamation of the entire business and undertaking of Indiabulls Credit Services with the company. Indiabulls has recently been in the news due to the IPO of its arm Dev Developers on the London Stock Exchange’s Alternative Investment Market (AIM) (See Related Post) and the hike in the stake held by steel magnate LN Mittal in the company.

Read the complete article in Business Standard.

Indiabulls founder Sameer Gehlaut picks up 25% in BAG Films

Indiabulls co-founder and chairman Sameer Gehlaut has invested in Delhi-based TV and film content company BAG Films. Gehlaut is buying around 25% stake in BAG Films for Rs. 262 mn ($5.7 mn). Gehlaut has been made a preferential allotment of up to 20.25 mn equity shares of Rs. 2 each at a price of Rs. 13 per share. It is now mandatory for Gehlaut to make an offer for a further 20% stake. A fully subscribed open offer would make Gehlaut BAG’s largest shareholder.

The promoters of BAG Films, Rajiv Shukla and Anuradha Prasad own about 37.5% on the expanded equity currently. According to Anuradha Prasad, MD of BAG Films, Gehlaut has come in as a pure financial investor. BAG also plans to invest about Rs. 160 mn in new media and the animation business. Recently, IDBI Bank and Bank of Baroda have picked up 10% each in BAG Films’ radio venture, BAG Infotainment.

For more, refer to the Indiantelevision.com article.