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Why is Sameer Nair picking up shares in Balaji Telefilms?

MUMBAI: It seems Balaji Telefilms group CEO Sameer Nair is putting all his might and money in the company. Since joining the production major in July this year, he has been busy stitching deals with broadcasters and picking up stake for himself.

Public data available on the BSE shows that between 1 September and 10 December, he went shopping for Balaji Telefilms shares for as many as 16 times. In different tranches, he picked up 202,000 shares, or 0.31 per cent stake in the company, for Rs 1.52 crore (Rs 15.20 million).

At current valuation, however, his shares are worth Rs 1.42 crore (Rs 14.25 million).

The different tranches include as few as 1,729 shares (on 3 December) to a maximum of 30,000 shares a day (on 3 and 4 September).

Interestingly, while his first purchase was for Rs 79.2 apiece, the last transaction was done at a price of Rs 70.44 a share. His highest pay-out per share for the scrip was on 7 October (Rs 79.95/share), while the total holding came at an average of Rs 75.27 per share.


Nair could not be reached for comment till the time of filing this report, but in an earlier interaction when reported on his stake buy, he had said that he acquired the shares at the available market price.

For the records, all the 16 transactions were done during market hours, at the available price.

Interestingly, since Nair’s taking the helms at Balaji Telefilms, the company, a non-CNX Media Index component, staged a strong show on the bourses, racing ahead of its peers.

Investors have remained active on the counter ever since IL&FS sold its entire 2.2 per cent stake or 14.37 lakh (1.437 million) equity shares in the company.

Star Middle East FZ-LLC (25.99 per cent) is a key shareholder of the company apart from the promoter group (42.93 per cent) comprising Jeetendra Kapoor, Shobha Kapoor, Ekta Kapoor and Tusshar Kapoor.

For the first half of FY15, Balaji Telefilms’ standalone revenue stood at Rs 88.98 crore (Rs 889.8 million), while its operating profit (EBITDA) was at Rs 83 lakh (Rs 8.3 million). Normalised net profit (removing one-time receipt on maturity of an insurance policy) stood at Rs 1.50 crore (Rs 15 million).

The company produces some of the top shows for Hindi general entertainment channels (GECs), including ‘Yeh Hain Mohabbatein’ (Star Plus), ‘Jodha Akbar’ and ‘Kumkum Bhagya’ (Zee TV), and ‘Meri Aashiqui Tum Se Hi’ (Colors). During this fiscal, it has also launched shows on Life Ok (‘Ajeeb Dastan Hain Yeh’) and Sony Pal (‘Yeh Dil Sun Raha Hai’).

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