Aircel Televenture acquires stake in Sahara One

Aircel Televenture acquires stake in Sahara One

Aircel Televenture has announced that they have acquired 15 per cent equity in the Subroto Roy’s media and entertainment company Sahara One.

Sahara One is owned by Sahara Group and this stake has been sold for a sum of Rs 119.97 crore. Sahara Group said in a statement that the decision to sell a part of the company was taken at the company’s board meeting.

With this deal completed, promoter’s equity in Sahara One would be reduced to 73 per cent. The deal also values the worth of the company as an impressive Rs 800 crore. The rest of the 6% stake in the company is owned by public.

Aircel Televenture said that they invested in the company considering the high potential of the firm to perform in the growing movie and television business. This money is expected to be further invested in the various projects of the company to further grow in the market.