Temasek to acquire 14.9% stake in Shringar Films

Deepak Mohanty - Televisionpoint.com
Temasek Holdings Limited will be acquiring a 14.9% stake in Shringar Films at a price of RS 62.50 per share. The Singapore-based equity fund bought 31.5 lakh shares from India Value Fund managed by GW Capital.

With this Temasek’s acquisition, it becomes the largest private equity investor in India. Most importantly noted that, This is the first media and entertainment exposure in India of Singapore government's investment arm.

Temasek has pledged to buy 4.9% more at the same rate later and the acquisition by Temasek is worth around RS 30 crore. Shringar Cinemas deals in film exhibition and film distribution. It has multiplexes in Mumbai.

In 2001, GW Capital had picked up 30% in the Shringar Group for RS 23 crore in a private equity placement. Post the recent IPO by Shringar Films, GW Capital’s holding dropped to around 26%.

Temasek has invested over $3.5 billion in India. Temasek has stakes in SingTel 63 per cent (thereby controlling 30 per cent in Bharti Tele-ventures), DBS Bank 28 per cent, Singapore Airlines 57 per cent among other blue chip companies. In India Temasek's investments include ICICI, TCS, Tata Motors, Reliance Industries, Reliance Energy etc.