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Business News/ Companies / Balaji Telefilms to raise Rs150 crore from global investors
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Balaji Telefilms to raise Rs150 crore from global investors

The company will raise Rs150 crore through preferential allotment of equity shares at Rs140 each to select global investors

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%. Premium
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%.

Mumbai: Balaji Telefilms Ltd will raise 150 crore through preferential allotment of equity shares at 140 each to select global investors such as Atyant Capital India Fund - I, Vanderbilt University, GHI LTP Ltd, GHI HSP Ltd and GHI ERP Ltd.

This preferential issue of equity shares is 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, Balaji Telefilms said in its filing to stock exchanges.

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 for the launch of ALT Digital Media Entertainment Ltd (ALT Digital Media), the group’s entry into the business-to-consumer digital content business.

“ALT Digital Media will operate as subscription video on demand (SVOD) based over the top (OTT) platform targeted towards urban Indians and Indian diaspora," the company said.

The transaction was facilitated by Axis Capital Ltd, being the sole investment banker and advisor for the fund raise.

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Published: 05 Feb 2016, 10:19 AM IST
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