Shah Rukh bags 10% of BAG Glamour for Rs 10 crore

NEW DELHI: King Khan’s entrepreneurial ambitions are getting bigger by the day. The actor, who recently bought Indian Premier League (IPL)’s Kolkata team rights along with actor Juhi Chawla and her hubby Jai Mehta, has now picked up 10% stake in BAG Glamour, a subsidiary of BAG Films & Media, for about Rs 10 crore.

BAG Films & Media is slated to launch its entertainment and wellness channels through BAG Glamour, which will start operations in mid-March.

Shah Rukh Khan and his wife Gauri, who also head production company Red Chillies Entertainment, have picked up the stake in their personal capacity, say sources.

Besides being an investor in the company, Khan is expected to play a pivotal role in content ideation for the soon-to-be-launched entertainment channel. “Shah Rukh Khan is also likely to appear for some of the shows on the channel. He is creative and is likely to contribute ideas to channel programming,” said an industry source.

When contacted, BAG Films & Media’s spokesperson refused to comment. In the past, the media company had raised over Rs 62 crore by diluting about 10% equity to Fidelity Funds, Mauritius.

Red Chillies recently bought the Kolkata IPL team for an estimated $75 million. The actor turned producer in 2000 with Phir Bhi Dil Hai Hindustani. His other productions include Asoka, Chalte Chalte, Main Hoon Na and the latest Om Shanti Om among others. Khan, who started his acting career with TV show Fauji, made a comeback on the silver screen with the second season of Kaun Banega Crorepati. He is now set to host another reality game show.

BAG Films & Media is promoted by Rajiv Shukla and his wife Anurradha Shukla and is listed on the Bombay Stock Exchange. The promoter group holds 31.8% in the company. Indiabulls promoter Sameer Gehlaut holds 21.68% stake in his personal capacity. The company launched its broadcasting initiatives under subsidiaries BAG Newsline and BAG Glamour.

Meenakshi Verma Ambwani, TNN