The Asian Group, the largest business conglomerate in Naizam area with ties to Tollywood, is reportedly in talks to sell a significant or partial stake to a Bollywood-based company.
The group, which includes the Daggubati Brothers and Sunil Narang’s family, has extensive holdings in theaters, multiplexes, and film production.
Rumors suggest that Adar Poonawalla, who recently invested Rs 1,000 crore in Karan Johar's company, has initiated discussions with the Asian Group.
However, details regarding the size of the stake being sold and the valuation method remain unclear, as Asian Group is not publicly traded and hasn't issued an IPO like a public limited company.
Interestingly, the Daggubati family and the Asian Group are not facing any financial difficulties, so there's no immediate need to sell shares.
The move seems to be driven by plans to expand their theater and multiplex operations in both Telugu states.
The potential deal is still in its early stages, and formal negotiations have yet to begin. Both sides must reach an agreement, and there is much to be worked out before any final decisions are made.