Bengaluru: SAR Televenture Limited (NSE Symbol: SARTELE) announces Composite Equity Issue of ₹ 450 crore. The Composite Issue comprises Rights Issue aggregating up to ₹ 300 crore and FPO aggregating up to ₹ 150 crore (The “Total Offer Size”).
The proposal for fund raising of an amount up to ₹ 450 crore through issuance of equity shares through Composite Issue was approved at the meeting of the Board of Directors of the Company held on 20th January 2024.
The Rights Issue will comprise 1,50,00,000 fully paid up Equity Shares of Rs. 2 each at an issue price of ₹ 200 per Rights share (including premium of ₹ 198 per Rights Share). The Rights Issue will open on Monday, July 15th 2024 and close on Monday, July 22nd, 2024. (The “Rights Issue and Offer Period”)
Existing shareholders will get 1 (one) Rights share for 1 (one) equity share held as on record date Tuesday, July 09th 2024 for the purpose of date determining the equity shareholder’s entitled to receive the Rights Entitlement in the Rights Issue (“Eligible Equity Shareholders for Rights Issue”)
The price band of FPO will be ₹ 200 to ₹ 210 per Equity Share. (The “FPO Price Band”)
