Kolkata-based Non-banking finance company Golden Goenka Fincorp Ltd has entered into an agreement to acquire 50 per cent shareholding in Purple Advertising Services Pvt Ltd (Purple) for $3.2M (Rs 18 crore), as per a filing on the Bombay Stock Exchange.
Started in 2008 by Pritimony Chakraboty, Purple constructs and operates of the state-of-the-art movie studios.
According to the filing, Purple is currently constructing two studio complexes and a movie town named ‘Purple Movie Town’ for producing films, serials and reality shows.
Incorporated in 1993, Golden Goenka Fincorp Ltd provides short to medium-term corporate loans, business loans and loans for investments in securities trading. The company offers inter corporate deposits, credit against securities/properties, IPO funding, lease finance, real estate project finance and, acquisition funding.
The shares of Golden Goenka Fincorp were trading at Rs 14.80 per share, down 0.34 per cent in afternoon trade on Monday in a weak Mumbai market.
(Edited by Prem Udayabhanu)