Den Networks to raise ₹ 142 cr via preferential allotment

PTI New Delhi | Updated on January 16, 2018 Published on October 15, 2016

Cable TV service provider Den Networks today said its shareholders have approved the company’s proposal to raise ₹142.43 crore via preferential allotment to global investment firm Goldman Sachs.

The shareholders approved the resolution at its Annual General Meeting with 99.98 per cent majority, the firm said a regulatory filing.

In September this year, Den Networks said the board of the company has approved allotment of 1.58 crore share having a face value of ₹10 to Goldman Sachs.

The issue price of the preferential allotment is ₹ 90 per equity share, including premium, it added.

“With the aforesaid allotment, the holding of affiliates of the Goldman Sachs Group Inc will go up from 17.79 per cent to 24.49 per cent. The total consideration will be ₹142.43 crore,” Den Network said in a BSE filing.

Published on October 15, 2016
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