Balaji Telefilms to raise Rs 131 crore via preferential share allotment
Balaji Telefilms, a leading Indian television production company, has revealed plans to raise Rs 131 crore through a preferential issue of equity shares to eight selected investors, including its promoter, Ekta Kapoor.
In a regulatory filing on Thursday, the company reported that its board of directors has approved the issuance of up to 1,78,59,776 equity shares at a price of Rs 73.17 per share.
The face value of each share is Rs 2, with the total capital raised amounting to Rs 130.68 crore.
The company stated that the proceeds will be utilised for general business purposes aligned with its long-term strategy.
The proposal is subject to shareholder and regulatory approval. An Extraordinary General Meeting (EGM) will be held virtually on 11 January 2025 to secure shareholder consent.
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