Bollywood superstar Ajay Devgn has invested significantly in Panorama Studios International, a film production company experiencing a remarkable stock market rise. The Singham actor acquired 1 lakh equity shares through a preferential issue, injecting Rs 2.74 crores into the small-cap company.
Panorama Studios recently issued 10 lakh equity shares and 15.41 lakh warrants to promoters and non-promoters. Ajay joined nine other investors, collectively contributing Rs 24.66 crores to the preferential share allotment, as per regulatory filings. Devgn's investment translates to Rs 274 per share.
Panorama Studios International's stock price has seen a significant upward trend in 2024. It has gained over 176% year-to-date and a staggering 255% in the past three months. Notably, the stock has delivered exceptional multi-bagger returns exceeding 884% in the last year.
This investment holds additional significance as the 54-year-old actor has previously collaborated with Panorama Studios on successful films like Dil Toh Baccha Hai Ji, Raid, and Drishyam. A few weeks ago, Panorama Studios announced production agreements for three Punjabi films: Carry On Jettiye, Ardaas 3, and Manje Bistre 3, partnering with Humble Motion Pictures FZCO and Reliance Industries (JIO Studios).
Additionally, Panorama Studios is working on a Hollywood remake of the Drishyam franchise with Gulfstream Pictures and JOAT Films. The studio reportedly aims to produce Drishyam in 10 countries over the next three to five years.
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