Our Bureau

Mumbai, April 26

ADLABS Films Ltd's board of directors has approved a preferential issue of 7.5 per cent equity stake worth $6 million to Arisaig Partners (Asia) Pte Ltd at Rs 150 per share.

With this, the total proposed investment in the company through the preferential mode amounts to $12 million, Adlabs informed the BSE.

Adlabs Films had earlier allotted a preferential issue of 6.5 per cent stake to BSMA Ltd, an affiliate of Bear Stearns Companies Inc, for $6 million. The two investors now hold a total of 14 per cent stake.

(This article was published in the Business Line print edition dated April 27, 2005)
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