Deal Corner April 01, 2011
Providence Equity Partners made an investment of approximately INR 2.7 Billion in UFO Moviez India Limited
Providence Equity Partners ("Providence"), through P5 Asia Holding Investments (Mauritius) Limited, made an investment of approximately INR 2.7 Billion in UFO Moviez India Limited ("UFO"), a Mumbai-based company engaged in the business of digital cinema distribution, by way of primary and secondary investment. UFO is the largest digital cinema service provider (via satellite) in the world with about 2,500 screens in operation and has devised and deployed technologies which permit the direct transmission of digital movie files to servers in theatres for direct projection. This was the second round of capital raising by UFO.
We, at Nishith Desai Associates, acted as legal counsel for Providence in this transaction.