Adlabs Films promoters raise stake to 60 per cent

MUMBAI: The promoters of Adlabs Films have upped their holding to about 60 per cent by purchasing additional 2.17 per cent stake in the company for a consideration of Rs 166.20 million (Rs 16.62 crores).

Adlabs Films’ promoters namely Reliance Capital, Reliance Land and AAA Entertainment, have raised their stake in the company to 59.96 per cent by purchasing an additional 10 lakh shares from the open market.

Adlabs promoters, who held 57.79 per cent as of December quarter, now hold 59.96 per cent stake comprising 2.76 crore shares post acquisition. Shares of Adlabs closed at Rs 160.10 on BSE, up 0.41 per cent over its previous close.

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