The Indian startup and entertainment culture has become a gold mine for investors now, and has managed to get the attention of industry behemoths like Reliance and Tata. Speaking of Tata, the well renowned Indian Industrialist, Ratan Tata is known for investing in startups that go on to become world-famous companies. Now he has ventured into the media and communications front, and acquired a stake in the company of favorite Amazon show Four More Shots Please-Pritish Nandy Communications (PNC).
Since he stepped down from his active role in the Tata Groups, Ratan Tata has invested in firms like Ola, Paytm, Lenskart, and many more. Much like those investments, this new acquisition was made in his personal capacity, yet neither he nor PNC has disclosed the stake he bought.
In an exchange filing, PNC has said, “Mr Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week.”
The media and entertainment company was founded by poet and journalist Pritish Nandy, went public in the year 2000 and gained major fame through the show –Four More Shots Please, which is an Amazon original and was the platform’s most watched show last year in India. The show is all set for its third season this year, which had earlier been delayed due to the pandemic. It is streaming on the platform now, and was nominated for an Emmy as well. The show is also being dubbed in various languages, and is set to release in over 200 countries very soon.
After the acquisition, the company’s shares have surged nearly 10%, and were valued at ₹25.90 apiece on NSE. On Monday, PNC shared a closing of ₹23.55 and opened at upper circuit on ₹25.90.