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.
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