Balaji Tele makes a strong debut

	Financial Daily from THE HINDU group of publications Thursday, November 23, 2000

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Balaji Tele makes a strong debut

Our Bureau

MUMBAI, Nov. 22

SHARES of Balaji Telefilms Ltd made their debut on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange today.

It opened at Rs 171 on BSE, higher than the issue price of Rs 130. It moved to a high of Rs 199 before edging down to close at Rs 153.45.

The share also hit the B2 Group turnover charts.

The television software company, promoted by film actor Jeetendra, had entered the capital market with a public issue of 28 lakh shares of Rs 10 each with a book-built portion of 25.20 lakh shares.

On Tuesday, it was announced that Nine Network Entertainment India Pvt Ltd, a wholly-owned subsidiary of Nine Broadcasting India Pvt Ltd, is merging with Balaji Telefilms.

Post-merger, promoters' stake in Balaji Telefilms will fall to 55 per cent from a post-issue stake of 69 per cent.