The Board of UFO Moviez India at its meeting held on 20 December 2019 has approved an investment of Rs 20 crore by way of convertible instruments over a period of three years in Cinestaan Digital. Post conversion of instruments, the company will get up to 62.50% stake in Cinestaan Digital.

— Business Standard

AZB & Partners advised UFO Moviez India Limited led by a team of partner Vaidhyanadhan Iyer, and senior associate Vasudha Asher.

Update 14 January 2020: Shardul Amarchand Mangaldas advised Cinestaan Digital Private Limited led by a team including partner Amit Khansaheb, partner Rishi Jain and senior associate Ayush Sharma.

2019-12-20

Deal value: INR 20 crores / appx. USD 2.8 million

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