Ratan Tata acquires stake in Pritish Nandy Communications

Tata Group patriarch Ratan Tata has acquired a stake in Pritish Nandy Communications (PNC), one of the first corporate entities in Bollywood, in his personal capacity.

"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," PNC said in an exchange filing.

However, it didn't disclose the stake bought by Tata.

Also read: 'Effortless, painless': Ratan Tata on receiving first COVID-19 vaccine dose

Founded by poet and journalist Pritish Nandy, media and entertainment company PNC went public in 2000. Last week, the company said it has started filming Season 3 of show 'Four More Shots Please!'. The series is an Amazon Original and will appear on Amazon Prime Video across 200 countries in multiple language dubs and sub-titles.

"The filming of the popular series, declared last year as Amazon's most watched show out of India, got postponed because of restrictions induced by the pandemic and will now start under strict security protocols," PNC said.

Tata has invested in many startups and technology companies in the past, including Ola, Paytm, Snapdeal, CureFit, Urban Ladder, Lenskart, and Lybrate. Last year, he had picked up a stake in 'Generic Aadhar', a unique pharmacy retail chain promoted by an 18-year old boy, Arjun Deshpande, from Mumbai.

Shares of PNC were trading 9.81 per cent higher at Rs 23.50 on the BSE in the afternoon trade on Monday.

Also read: Ratan Tata buys stake in Mumbai teenager's pharmacy chain