Bodhi Tree Multimedia (NSE:BTML, BOM:543767) has signed a memorandum of understanding with the State Government of Assam in India, to launch a global media hub in the city of Guwahati, with an investment of 5 billion Indian rupees, according to a Tuesday filing to the Indian stock exchanges.
The planned facilities in the hub include a media city, a luxury wellness resort, and an India Pavilion to showcase India's culture.
The company is also planning to set up similar hubs in other parts of the country.
Shares of the company were down nearly 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.