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Anil Ambani sees money in FM

Anil Ambani-controlled Adlabs Films Ltd (AFL) announced the demerger of its FM radio business into a separate entity that would be listed on the bourses.

AFL would also amalgamate or merge two of its subsidiaries, namely entertainment One India Ltd and Mukta Adlabs Digital Exhibition Private Ltd with it.

Subsequent to the demerger of fm radio business, all shareholders of AFL would get two shares each of the newly- formed company.

"The board of directors of Adlabs Films Ltd at a meeting held on April 24 approved the proposal for demerger of the fm radio business to a wholly owned subsidiary (SPV). The demerged company will be separately listed on the bourses and the demerger will unlock substantial shareholder value," a company release said.

According to AFL, the demerger of FM radio business would create an independent focussed organisation to grow the potent ally high-growth FM radio business, enable it to raise resources on its own and impart an optimal valuation of the FM radio business as an independent and separate listed entity.

The demerger would also help the business attract and retain high quality talent for the FM radio business through ESOPs, it added.

( www.financialexpress.com)

 
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