George Soros buys 3 percent stake in Reliance Entertainment for $100 Mn
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Bangalore: George Soros has acquired three percent stake in Reliance Entertainment, the Anil Ambani owned company valued at over three billion dollars for $100 million (Rs 400 crore). In India, George Soros is very active on the pre-IPO placement market in India. The company has made several pre-IPO investments in the past in companies such as OnMobile and Future Capital Holdings. Reliance Entertainment, which is planning an IPO shortly, is expected to file the Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) soon after the budget. The company has three main lines of business - Internet and new media, film entertainment and TV broadcasting. Its internet business include gaming portal Zapak, social networking site Big Adda, movie rentals business Big Flicks; and mobile media company Jump Mobile. The film entertainment that includes movie production and exhibition business (Adlabs), has signed up with three directors Farhan Akhtar, Madhur Bhandarkar and Vivek Agnihotri for production. The company is also planning to establish a bouquet of channels in a year's time will need huge capital and will be raising further funds.

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