Earlier, Balaji Telefilms informed exchanges that its board of directors has approved the issuance of over 2.38 crore convertible warrants.
Share Market News: Balaji Telefilms has reported an 8.5 per cent increase in revenue to Rs 490.0 crores in 9M FY24 vis-a-vis Rs 448.3 crores in 9M FY23. Group-level EBITDA profit stood at Rs 43.7 crore in 9M FY24 vis-a-vis EBITDA loss of Rs 30.6 crore in 9M FY23 demonstrating the Group’s continued focus on operational excellence and strategic cost rationalizing across business segments, especially the Group’s digital business (ALT Digital).
These strategic measures enabled the Company to achieve significant improvement at the EBITDA level and are expected to yield positive results going forward. Profit after tax in 9M FY24 is Rs 22.0 crore compared to loss after tax in previous comparative periods i.e. Rs 45.7 crore in 9M FY23.
Earlier, Balaji Telefilms informed exchanges that its board of directors has approved the issuance of over 2.38 crore convertible warrants. These warrants will be carrying a right to subscribe to one fully paid-up equity share of the face value of Rs 2 on a preferential basis. According to the exchange filing, the media and entertainment company aims to raise funds of Rs 214 crore by way of the proposed issue.
The company also said that its board of directors has also approved the warrant price of Rs 89.60 apiece.
“Upto 2,38,83,930 (Two Crore Thirty-Eight Lac Eighty-Three Thousand Nine Hundred Thirty) warrants, each convertible into 1 (One) fully paid-up Equity Share of the Company of face value of Rs. 2/- (Rupees Two), within a period of 18 months from the date of allotment, to be issued at a price of Rs. 89.60/- (Rupees Eighty-Nine and Sixty paise only) per warrant,” the company said in an exchange filing.
Disclaimer: The article is for informational purposes only and not investment advice.