Picturehouse Media touches roof on getting nod to acquire stake in New Cyberabad City Projects
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Picturehouse Media is currently trading at its upper limit of Rs. 5.67, up by 0.27 points or 5.00% from its previous closing of Rs. 5.40 on the BSE.
The scrip opened at Rs. 5.67 and has touched a high and low of Rs. 5.67 and Rs. 5.18 respectively. So far 20560 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 10.10 on 20-Oct-2022 and a 52 week low of Rs. 4.10 on 12-Sep-2022.
Last one week high and low of the scrip stood at Rs. 5.67 and Rs. 4.91 respectively. The current market cap of the company is Rs. 29.63 crore.
The promoters holding in the company stood at 73.90%, while Non-Institutions held 26.10% stake in the company.
Picturehouse Media has received approval for the acquisition of 10,10,000 equity shares of Rs 10 of New Cyberabad City Projects for a consideration of Rs 32.52 crore. The consideration payable shall be discharged by way of Cash, in tranches.
The company is planning to foray into real estate industry and in the Annual General Meeting held on September 30, 2022 had altered MOA to additionally include real estate as its business. Post completion of the acquisition, the NCCPPL will become the Subsidiary of the company. The Board at its meeting held on August 24, 2023 has approved the acquisition of the same.
Picturehouse Media is engaged in the business of movie production and related activities. The Company primarily operates in the movie production and movie financing segment.
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