In two market transactions, 3i has exited its investment in UFO Moviez while Blackstone has pared its holdings further in Gokaldas Exports.
3i exits digital cinema distribution network co UFO Moviez
British private-equity firm 3i Group Plc has sold its entire 10 per cent stake in UFO Moviez India Ltd, digital cinema distribution network and in-cinema advertising platform through an open market transaction.
The PE firm had invested in the company back in 2007 and marked the full exit in three tranches. Earlier in 2011, it had sold some part of the stake and then in 2015, it further trimmed its holding in the digital cinema firm.
UFO Moviez India is the country’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens. The company operates India’s largest satellite-based, digital cinema distribution network using its UFO-M4 platform, as well as India’s largest D-Cinema network. It was listed in public domain last year in May.
Shares of UFO Moviez were trading at Rs 592.05 per share, up 7.25 per cent on BSE in a strong Mumbai market on Friday.
Blackstone trims holding in Gokaldas Exports, sells 7.4% more
After selling 10 per cent stake in the company last month, the PE firm has now sold an additional 7.4 per cent stake at a loss.
Blackstone sold shares at Rs 113.5 each to ICICI Bank for Rs 29.2 crore ($4.3 million).
Gokaldas Exports’s scrip last exchanged hands at Rs 105.50 each, up 0.67 per cent on BSE in a strong Mumbai market on Friday.