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Ramoji Group has the World’s biggest film city, ETV network, the India’s bestselling Telugu newspaper and South India’s biggest chit fund.

The US-based private equity fund, Blackstone Group is, reportedly, all set to buy 26 percent stake in Ramoji group’s Ushodaya Enterprises for $150 million.

If all goes according to the plan, this will be the show of growing hunger of foreign funds investing in India. Earlier in last year, Blackstone had launched its private equity business in India. It has invested $50 million in Emcure Pharmaceuticals, Pune that earmarked $1 billion.

Now, this would be Blackstone’s second investment in India. According to the Ushodaya Enterprises’s Company Secretary, G Srinivas said,

Ramoji group is in the process to explore ways and means to sense the value in the company. However, as of now, there is no such proposal.

On the other hand, Akhil Gupta, chairman and managing director of Blackstone India has declined to say anything on this investment.

The Times of India has reported that the Ramoji group has a plan to use the generated money to fund expansion plans of the Rs 750 crore Ushodaya Enterprises Limited. The UEL publishes Eenadu newspaper, runs ETV network and sells pickles by Priya Foods.

The group owns Ramoji Film City, runs a chain of hotels under the Dolphin brand too.

The Ramoji group has its roots in Margadarsi Chit Funds. The financial business is running through a tough time because of RBI’s directives. RBI has asked Ramoji group to stop taking deposits from the public because it is an unincorporated unit that is owned by a Hindu undivided family.

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