20 Nov 2017
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Balaji Telefilms group CEO Sameer Nair purchases small stake in the company

MUMBAI: Sameer Nair, who recently took charge as Balaji Telefilms Ltd’s (BTL) group CEO, has purchased a small stake in the company.

Nair, former Star Entertainment India CEO, paid around Rs 2.7 million for 35,000 shares of BTL. He bought from the open market at an average price of Rs 78 per share.

Nair, who turned around the fortunes of Star Plus in 2000, told TelevisionPost.com that he acquired the shares at the available market price. He holds 0.05 per cent stake in BTL.

It may be recalled that Nair orchestrated Amitabh Bachchan’s debut on television in a game show called ‘Kaun Banega Crorepati’ (KBC). He also introduced the proverbial ‘saas-bahu’ series, produced by BTL, on Star Plus.

While Nair’s purchases were made in bouts during the trading session on Thursday, they did little to add life to the BTL counter which settled the session 0.6 per cent lower at Rs 76.65 apiece.

In July, Nair joined BTL as group CEO. Following this, BTL, a non-CNX Media Index component, staged a strong show on the bourses, racing ahead of its peers.

Last week, BTL had scaled its 52-week high of Rs 85.05 a share. It stood out among media & entertainment (M&E) stocks in recent times.

Investors have remained active on the BTL counter ever since IL&FS sold its entire 2.2 per cent stake or 14.37 lakh (1.437 million) equity shares in BTL. Jewel Advisory Services LLP picked up 1.14 per cent stake or 7.41 lakh (0.74 million) equity shares in recent times.

Star Middle East FZ-LLC (25.99 per cent) is a key shareholder of the company apart from the promoter group (42.99 per cent) comprising Jeetendra Kapoor, Shobha Kapoor, Ekta Kapoor and Tusshar Kapoor.