BABA ARTS LTD-$
Add to watch list to get report alerts
BSE Code:
532380
NSE Code:
BABA
Business Profile
Business Profile
Incorporated in 1999, Galaxy Multimedia formally Galaxy Digi Systems is promoted by Vipin Rai Bhayana. The company is engaged in television software.The plants are located in Andheri in Mumbai (Maharashtra). The company raised Rs 2.5 crore from the capital markets in September 2000 through an initial public offer for 2.55 mn equity shares of Rs 10 each. The proceeds of the offer are being utilised towards setting up multimedia and post-production facilities and for production of television software.
Recent Developments
Gordhan Tanwani has entered into memorandum of understanding with Vipin Rai Bhayana, Ekagra Investments & Trading and Mount Trading & Investments to acquire a total of 51,00,010 equity shares of
Galaxy Multimedia. The block constitutes 50.74 per cent of the paid-up capital of Galaxy
Multimedia. The deal has been struck at a negotiated price of Rs 2.50 per share, aggregating to Rs 1,27,50,025.
Also, as required by the Sebi (substantial acquisition of shares) Regulations, 1997, Tanwani will make an offer to the public shareholders of the company for acquiring up to 20,10,094 equity shares of the company or 20 per cent of the total paid-up capital of the Galaxy Mutlimedia.