Tata group has recently invested in Pritish Nandy Communications (PNC). Founded by poet and journalist Pritish Nandy, a Mumbai-based media and entertainment company, PNC went public in 2000.
“Mr. Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week,” PNC said in an exchange filing.
Tata has invested in many startups and technology companies in the past, including Ola, Paytm, Snapdeal, CureFit, Urban Ladder, Lenskart, and Lybrate. Tata group also has a stake in ‘Generic Aadhar’ which is a pharmacy retail chain promoted by Arjun Deshpande.
This investment resulted in a 9.81 percent increase in PNC shares that are now trading at ₹23.50 apiece on the Bombay Stock Exchange (BSE). This is one step further in the growth of PNC that as per its website is now valued at ₹2,653 million today.
In an official statement released by Tata, it was mentioned that: “Business needs to go beyond the interest of their companies to the communities they serve.” Tata has always been invested in helping the society grow and had earlier invested over Rs 22.91 crore in CSR activities in the financial year 2019-2020.
(PNC) Pratish Nandi Communications was founded in 1993 dedicated to creating news and entertainment shows over the years. It has many shows listed across various platforms including ‘Four More Shots Please!’ that is currently available on the company’s official website and Amazon Prime.
The company said that Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week.