Balaji Telefilms, one of the country's largest production house, has announced that the company has signed a share purchase agreement with Marinating Films Private (MFPL) on Wednesday and by virtue of this agreement the company will purchase and hold 51% of the paid-up equity share capital of MFPL.

MFPL is the owner of the concept, format and all proprietary rights and intellectual property rights (IPR) in Box Cricket League (BCL), "The Indian Telly Calender" (ITC) and "Indian Telly Style Awards" (ITSA) and organizes BCL, ITC and ITSA on a yearly basis.

And now by virtue of the IPR Assignment agreement dated Dec. 3, 2014 between the company and MFPL, the company now owns 51% IPR in BCL, ITC and ITSA.

Shares of the company declined Rs 0.55, or 0.74%, to trade at Rs 74.15. The total volume of shares traded was 19,309 at the BSE (11.27 a.m., Thursday).