Stocks

Brightcom Group board okays ₹373 cr preferential issue

Our Bureau Hyderabad | Updated on July 13, 2021

The Hyderabad-headquartered firm provides digital marketing solutions and services.

The board of directors of Brightcom Group has approved a proposal to issue and allot 11.96 crore equity shares to FPIs (foreign portfolio investors) and other investors through a preferential allotment at ₹31.17 each (with a face value of ₹2 each) at a premium of ₹29.17. The allotment size is put at ₹373 crore.

The BSE-listed firm, headquartered in Hyderabad, provides digital marketing solutions and services to clients in different countries.

“The post-funding dilution is 12.5 per cent. Of this, FPI contribution is 10.5 per cent,” the company informed the Bombay Stock Exchange (BSE) on Tuesday.

Of the 15 entities, Citrus Global Arbitrage Fund, Calypso Global Investment Fund, Navigator Emerging Market Fund, and Connecor Investment Enterprises will be allotted two crore shares each.

The Extraordinary General Meeting (EGM) will be held on August 5 through video conferencing.

Published on July 13, 2021

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