Oct 15, 2016 06:10 PM IST IST | Source: PTI

Den Networks to raise Rs 142 cr via preferential allotment

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 Rs 10 to Goldman Sachs.

Cable TV service provider Den Networks today said its shareholders have approved the company's proposal to raise Rs 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 Rs 10 to Goldman Sachs.

The issue price of the preferential allotment is Rs 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 Rs 142.43 crore," Den Network said in a BSE filing.

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