Adlabs Films to issue Rs 52.50cr pref shares

Adlabs Films board, at its meeting held today, has approved the preferential allotment of equity shares of face value of Rs 5/- each at a premium of Rs 145/- per share.

According to a release issued by Adlabs Films to the BSE, 17.50 lakh equity shares each will be issued to BBMA sub a/c of Bear, Steams & Co and Arisiag Partners sub a/c Arisaig Fund (India).

The equity shares issue aggregates to 14% of the total post issue paid up equity share capital of the company for a total consideration of Rs 52.50 crore, the release added.