Board of Balaji Telefilms approves preferential issue of equity shares

At meeting held on 04 February 2016

The Board of Directors of Balaji Telefilms at its meeting held on 04 February 2015 has considered and approved a preferential issue of 1,07,20,000 equity shares at Rs. 140 each, aggregating to Rs. 150 crore to Atyant Capital India Fund - I, Vanderbilt University, GHI LTP, GHI HSP and GHI ERP, subject to necessary approvals.

The issue price represents a 26% premium over the average of the weekly high and low of the volume weighted average share price of the Company during the past 26-week period. The proposed issue will result in a dilution of 14.1% of the equity share capital of the Company and the post-issue promoter and promoter group holding in the Company will be 40.6%.

The proceeds of the issue will be utilized to catapult the launch and growth of ALT Digital Media Entertainment - the Group's foray into the B2C digital content business segment.

Powered by Capital Market - Live News