The Hyderabad-based Padmalaya Telefilms Ltd has proposed to issue 15 lakh equity shares on a private placement basis.
The board will meet on December 21 to consider the proposal and also a plan to hive off and merge its animation division with its US-based subsidiary.
According to sources, Padmalaya will also consider inducting a strategic investor through the private placement route.
The minimum offer price as per the Securities and Exchange Board of India guidelines would be Rs 110 a share.
The company had posted a net profit of Rs 6.38 crore on a total income of Rs 27.40 crore for the half year ended September 2001. The paid-up capital of the company, at present, stands at Rs 10.49 crore.
Padmalaya Telefilms had come out with a Rs 25 crore public issue in June 2000 at a premium of Rs 90 a share. The company's latest Hindi movie "Aamdani Athanni Kharcha Rupaiya" is slated for release on December 21.
