The Hindu Business Line : Aircel Tele picks stake in Sahara One

Aircel Televentures will acquire 14.98 per cent stake in Sahara One Media & Entertainment Ltd for Rs 120 crore. Sahara One Media & Entertainment Ltd on Monday announced that its board has approved a preferential allotment to Aircel Televentures. The entertainment would issue 32.25 lakh shares of Rs 10 each at Rs 372 per share to Aircel Televentures Ltd on preferential basis. The company has scheduled an extraordinary general meeting on May 8 to accord the consent of shareholders to issue equity shares to Aircel Televentures Ltd on preferential basis. Shares of Sahara were unchanged at Rs 370 on BSE. — Our Bureau

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