The promoters of Padmalaya Telefilms Ltd are increasing their stake in the company from 36 per cent to 46.45 per cent through a preferential offer.
The board of directors of Padmalaya has proposed to issue 20 lakh equity shares to Padmalaya Enterprises, a holding firm of the promoters, at a price of Rs 142.20 a share computed as per the Securities and Exchange board of India (Sebi)) guidelines.
The issue will fetch the company an amount of Rs 28.44 crore. The company has called for an extraordinary general meeting (EGM) on March 27 to seek the shareholders