Balaji Telefilms to raise Rs 131 crore via preferential share allotment
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.
The shares will be allocated to both promoter and non-promoter entities, with notable participation from foreign portfolio investors (FPIs) and individual investors. Ekta Kapoor, the company’s promoter, will receive 34,16,700 shares, representing 19.1% of the total allocation, for an investment of Rs 25 crore. Her shareholding will increase from 18.16% to 18.30%. Among non-promoter investors, Atyant Capital India Fund I will be allocated 28,24,928 shares, amounting to Rs 20.67 crore, increasing its shareholding from 4.02% to 5.78%.
Vanderbilt University – Atyant Capital Management will also receive 28,24,928 shares for Rs 20.67 crore, with its stake rising from 4.51% to 6.20%. Gothic Corporation will be allocated 31,63,919 shares worth Rs 23.15 crore, raising its stake from 4.76% to 6.69%.
The Duke Endowment will acquire 11,29,971 shares for Rs 8.27 crore, Gothic HSP Corporation will receive 6,77,983 shares for Rs 4.96 crore, and the Employees’ Retirement Plan of Duke University will also be allocated 6,77,983 shares for Rs 4.96 crore.
Sanjiv Dhireshbhai Shah, the only individual non-promoter, will be allocated 31,43,364 shares worth Rs 23 crore, giving him a significant portion of the new shares.
