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Friday, Jan 02, 2004

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K Sera Sera to meet on Jan 6 on pref issue

Our Bureau

Mumbai , Jan. 1

K SERA Sera Productions Ltd on Thursday informed the BSE that its board of directors will meet on January 6 to discuss the offer and issue of 15,00,000 equity shares to Sahara India Mass Communication Ltd on preferential basis.

Additionally, the board will discuss the offer and issue of 8,50,000 equity shares to NRIs/PIOs under foreign direct investment scheme on preferential basis besides offer and issue of 10,00,000 equity shares to the resident Indians/companies, FIIs, mutual funds on preferential basis.

It is proposed to convene an extraordinary general meeting on February 5, for considering these items, the company's statement said.

On Wednesday, K Sera Sera Productions had informed the bourse of an agreement and MoU with Sahara India Mass Communication, which included the proposal to offer and issue 15,00,000 equity shares of Rs 10 each at such premium as may be determined in accordance with the SEBI guidelines and subject to shareholders' approval.

Further, its statement said, the company along with Varma Corporation Ltd had bagged a contract for roughly Rs 27 crore from Sahara India Mass Communication to make 10 Hindi feature films.

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