Sajid Nadiadwala's 100 crore plan!

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Article Updated 01 May, 2008 02:07:14 AM IST

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Sajid Nadiadwala's 100 crore plan!

Sajid Nadiadwala

Sajid Nadiadwala for Nadiadwala Grandson Entertainment has today announced that in a strategic move his company has agreed to acquire a 50% stake in a high profile television channel. The channel's name is being withheld while we await an official announcement, which is soon to follow. The investment is based on an enterprise value of 100 crore (approx. 1 million rupees).

This is a great strategic move for NGE that reinstates the leading production house's corporate branding and business sense. On the acquisition, Mr. Nadiadwala, director NGE said, "This acquisition is an important step for our company towards consolidation in the TV industry. We are confident that this will add immense value to the company and strengthen our company's profile. We have other expansion plans which we will announce shortly."