Reliance Big Entertainment, the internet, media and entertainment arm of the Anil Dhirubhai Ambani Group (ADAG) is set to offload 5% stake to global investors shortly, as it gets ready with mega plans in the movies and broadcasting space. The entertainment rollout will be under the ?Big? brand.
The company has also lined up as many as 30 films, which would be released over the next 12-18 months. ?These would have some of the biggest names in the business, both as actors and directors,? sources said.
The offloading may take place over the next 2-3 weeks, sources said, adding that the group hopes to see the valuation of the company at upward of Rs 6,000 crore ($1.5 billion). When contacted, ADAG officials, however, declined to make any official comment on the development.
The placement is also being viewed as a precursor to an eventual listing of Reliance Big. The company believes that the media and entertainment industry is maturing fast and the time was ripe for capital to be raised. It has taken over ND Studio to roll out movies and also acquiree Anirights which is being rechristgened Big
Animation and would produce three to four films. It is currently planning to launch a number of channels.