Stock in focus: Multibagger entertainment stock Balaji Telefilms declares ₹214 crore fundraise
Stock in focus: Balaji Telefilms shares will be in focus on Monday as the entertainment company has declared fundraise via issuance of warrants. The board of directors of the company considered and approved proposal for issuance of up to 2,38,83,930 warrants on a preferential basis.
The company board also approved warrant price at ₹89.60 apiece and rise up to ₹214,00,00,128 or ₹214 crore. The company board took this decision while considering the unaudited financial results for the October to December 2023 quarter The entertainment company informed Indian stock market exchanges about the fundraise move saying, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations") read with SEBI Circular dated July 13, 2023, we wish to inform that the Board of Directors of Balaji Telefilms Limited (“the Company"), at their meeting held today, i.e.
on February 09, 2024, inter-alia considered and approved to issue and allot a maximum of up to 2,38,83,930 (Two Crore Thirty-Eight Lac Eighty-Three Thousand Nine Hundred Thirty) Warrants, each convertible into or exchangeable for 1 (One) fully paid-up Equity Share of the Company of face value of Rs. 2/- (Rupees Two) each (“Warrant") to the “Proposed Alottees" as listed in Annexure A, by way of preferential issue at a price of Rs.
89.60/- (Rupees Eighty-Nine and Sixty paise only) per warrant, which is not less than the minimum price determined in accordance with Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time-to-time, for an aggregate amount of upto Rs. 214,00,00,128 (Rupees Two Hundred and Fourteen Crore and One Hundred Twenty Eight only), subject to the approval
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