Subsequent to obtaining approval of the shareholders in the Extra-ordinary General Meeting on March 5, 2016, Balaji Telefilms has completed the allotment of 1.07 crore equity shares representing 14.1% of the equity share capital of the company to Atyant Capital India Fund - I, Vanderbilt University, GHI LTP, GHI HSP and GHI ERP. The equity shares, having face value of Rs 2 each, have been issued and allotted on preferential basis at a price of Rs 140 each for a total consideration of Rs 150.08 crore.
The proceeds of the issue will be utilized to catapult the launch and growth of ALT Digital Media Entertainment (ALT Digital Media) - the Group's foray into the B2C digital content business segment - the next growth driver for the Company. ALT Digital Media will create its own highly differentiated, original digital content platform for the entire connected ecosystem spanning mobiles, computers, tablets, smart TVs and game stations. The Board of Directors of the company has already approved investment of Rs 150 crore in ALT Digital Media.
Balaji Telefilms is India’s leading integrated media conglomerate with market leadership in the motion picture and television content industries, among other entertainment-led businesses.
| Company Name | CMP |
|---|---|
| PVR | 938.05 |
| Saregama India | 344.55 |
| Shemaroo Entertain. | 105.35 |
| Balaji Telefilms | 94.39 |
| UFO Moviez | 72.06 |
| View more.. | |
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