Saregama in bed with Anil’s Reliance
Here you go, another story on Saregama. Its just learnt that Anil’s Reliance which has a subsidiary by the name of Sonata Investments had upped its stake in Kolkatta (I prefer calcutta) based Saregama to 12.47%
Its also being said that its close to takeover situation, wherein Reliance if buys a few extra %age to bring its total to 15% of Saregama, will have to buy additional 20% or atleast make an offer for it. This is above my head, but what I do get is that Reliance is getting into music, media, entertainment, and digital space in India in a BIG way, I guess you understood my hint, come on yaar “BIG” , get it ? Still no, okay read my previous story about their other launches.
Promoters of Saregama are happy with their 50.77% and are not worried that Reliance will take over, ofcourse, why would they be worried, they stand to make money anyways.
I dont see it bad, but also not good, when BIG companies get in bed together, its always bad for poor consumer, we will have to wait and see what is the outcome of this action of Reliance. Saregama guys have mentioned that its nothing out of ordinary, as Sonata Investments keeps buying and selling their shares, yeah right, when did they buy such a BIG chunk ?1063299 shares at Rs 250, thats, Rs 26,58,24,750 or $ 6.65 million. Man thats a lot of money, if I had this or even half of this, I would retire 
-Indian Wizard
