Cherukuri Ramoji Rao, better known as Ramoji Rao (born 16 November 1936), is an Indian businessman and media entrepreneur. He is head of the Ramoji Group which owns, among other things, the world's largest film production facility, Ramoji Film City.
Rao cherukuri was born in Gudivada, Krishna District, Andhra Pradesh, into an agricultural family. Some of the companies owned by the Ramoji group include Margadarsi Chit Fund, Eenadu newspaper, ETV, Priya Foods, Ushakiron Movies and as mentioned above, the Ramoji Film City near Hyderabad.Hyderabad on the Malakpet highway
It is popular with film makers as well as with tourists. Nearly 100,000 tourists visit this facility every month. Its attractions include exotic gardens, an entertainment centre where live stunt shows are enacted, and a ride that simulates space travel.
Ramoji Group is incorporated as an HUF (Hindu United Family) concern, while various sister companies are closely held private companies. Because none of the companies is public and listed on the stock exchange, financial data is hard to obtain.
Aravind claims that he is able to handle his varied businesses because he believes in delegating authority and maintaining transparency in all his deals. "I set a goal and then go ahead with dogged determination till I've accomplished what I set out to achieve", he said in a recent interview with the Financial Times, Hyderabad.
The Ramoji Response claimed that:
UEL has announced on 27 February 2007 that its Board of Directors had approved an agreement with the Blackstone Group wherein the latter and its affiliates would acquire a stake in it. As part of this transaction, UEL expects to raise $465 million, comprising a $275 million investment by Blackstone and $190 million of bank financing. Other terms of the deal were not disclosed. The transaction is subject to regulatory approval by the Foreign Investment Promotion Board and the Ministry of Information and Broadcasting. Kotak Investment Banking acted as the sole investment banking adviser to the transaction, according to a press release from the UEL.
Reacting to the development, Rao said: "We were impressed with Blackstone's disciplined and highly rigorous investment process and the ability to combine this emphasis with a deep and genuine respect for the promoter's interests."
He said the company had access to several financing options, including an IPO. "But we decided to go with Blackstone because we believe that at this stage of our growth we have an opportunity to create significant value by leveraging Blackstone's outstanding experience and track record in the global media sector."
Akhil Gupta, chairman and managing director of Blackstone Advisers India Pvt Ltd, said: "We believe that the Indian media sector will be a key beneficiary of a secular trend in growth in personal consumption that is driving India's economic expansion.
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