Sandesh to raise Rs 27cr from ToI

Sandesh today announced that it has signed a business co-operation and arrange agreement (BCAA) with Bennett Coleman & Company, publishers of The Times of India.

According to a release issued by Sandesh to the BSE today, the company and its promoters have also executed a share subscription agreement with Bennett Coleman for the issue and allotment of 10,37,714 equity shares of Rs 10 each at Rs 262.82 per share.

The shares of Sandesh closed on the BSE today at Rs 190, which means the placement has been done at a premium of 38%.

Also Read: Sandesh issues 12 per cent equity to Times group