Singham enters stock market! Ajay Devgn invests Rs 2.74 crore in smallcap studio firm

economictimes.indiatimes.com:

Ajay Devgn, best known for blockbusters like Singham and Drishyam franchisees, has bought 1 lakh shares of a multibagger smallcap stock, Panorama Studios International, by participating in a preferential issue of shares of the film production house.

Regulatory filings show Devgn's name among 9 investors who invested a total of Rs 24.66 crore in the preferential share allotment. The Bollywood star's investment is worth about Rs 2.74 crore and the purchasing price comes to about Rs 274 per share — a significant discount to Saturday's closing price of Rs 949 per share on the BSE.

With a market capitalisation of just about Rs 1,200 crore, Panorama shares have more than doubled in the calendar year 2024 and skyrocketed 800% in the last one-year period.

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The actor shares a close relationship with Panorama and has worked in their productions like 'Dil Toh Baccha Hai Ji', 'Raid' and 'Drishyam'. In the upcoming horror movie 'Shaitan', Devgn is not only an actor but also a co-producer along with Panorama and Jio Studios.

Earlier in the week, it was reported that Panorama has teamed up with Gulfstream Pictures and JOAT Films for the Hollywood remake of the Drishyam franchise.

The superhit film series, which had Devgn in the lead role, is also being developed in South Korea as well and a development deal is being finalised for a Spanish-language version.

Panorama Studios Chairman and MD Kumar Mangat Pathak