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Business News/ Markets / Stock Markets/  Stock in focus: Multibagger entertainment stock Balaji Telefilms declares 214 crore fundraise

Stock in focus: Multibagger entertainment stock Balaji Telefilms declares ₹214 crore fundraise

Q3 results 2024: Balaji Telefilms Ltd reports cost of production at ₹101.70 crore in Q3FY24, with YoY gross margins growing from ₹29.70 crore to ₹36.60 crore

Stock in focus: Multibagger stock has declared fundraising to the tune of ₹214 crore via the issuance of warrants on a preferential basis. (Photo: Pixabay)Premium
Stock in focus: Multibagger stock has declared fundraising to the tune of 214 crore via the issuance of warrants on a preferential basis. (Photo: Pixabay)

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

Balaji Telefilms news

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 of regulatory/statutory authorities and the shareholders of the Company."

Balaji Telefilms Q3 resaults

In Q3 results 2024, Balaji Telefilms Ltd reported cost of production at 101.70 crore, which stood at 147.5 crore in the previous quarter and at 135.7 crore in the corresponding quarter of the previous financial year. The company's YoY grosss margins grew from 29.70 crore to 36.60 crore in Q3FY24. YoY EBITDA margins of the company remained steady at 3 percent.

In the first nine months of the current fiscal, the company's income from operations stood at 490 crore, which was at 448.4 crore in first nine months of the previous fiscal. In April to December 2023 period, the entertainment company reported net profit of 22 crore while in the corresponding period of the previous financial year, the entertainment had logged a net loss of 45.70 crore.

Balaji Telefilms share price

The entertainment stock is one of the multibagger stocks that Indian stock market has delivered in the last one year. In the last one year, Balaji Telefilms share price has ascended from around 47.85 to 130.40 apiece, recording around 175 percent rally in this time.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 10 Feb 2024, 12:41 PM IST
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