JAKARTA – Raam Punjabi's production house, PT Tripar Multivision Plus Tbk (RAAM), has cut the capital of its subsidiary, PT MVP Bangun Sarana, by IDR 35 billion.

Previously, MVP Bangun Sarana had issued and fully paid-up capital of IDR 196.3 billion. After RAAM’s capital reduction, the working capital now stands at IDR 161.29 billion as of March 1, 2025.

However, RAAM remains the controlling shareholder with a 99.99% stake, while the remaining 0.01% is owned by Ram Jethmal Punjabi.

“This capital reduction does not materially impact the company’s business continuity,” said Vikas Chand Sharma, Director of RAAM, in a statement to the Indonesia Stock Exchange (IDX) on Monday (3/3).

Meanwhile, Raam Punjabi continues to increase his stake in RAAM, having accumulated an additional 571,500 RAAM shares at IDR 354–IDR 360 per share on 19–20 February 2025.

“With this transaction, his ownership increased from 70.47%, equivalent to 4,801,679,782 shares, to 70.48%, or 4,802,251,282 shares,” he stated.

On Monday’s (3/3) trading session, RAAM’s stock rose by 3.77% to IDR 330 per share, with a trading volume of 3.43 million shares and a total transaction value of IDR 1.13 billion.

Although RAAM’s stock price dropped 4.62% over the past week, it has increased by 26.92% in the past month. (DK/ZH)