UTV seeks investors' nod for pref issue to Disney

Printer Print Email Email
Mumbai: Media and entertainment firm UTV Software is seeking approval of shareholders for issuing shares worth Rs 805 crore on preferential basis to Walt Disney.

As informed to BSE, UTV Software will hold a general meeting of the shareholders on March 17, to consider the allotment of 93.52 lakh shares to Walt Disney Company (Southeast Asia) at a price of Rs 860.79 per share aggregating to over Rs 805 crore. With this allotment Walt Disney's stake in the company would increase to 32 percent.

The company would also seek shareholders consent for allotment of 45.32 lakh convertible warrants to Unilazer Exports and Management Consultants.

The board of directors earlier in its meeting on February 16, had executed a share subscription agreement between the Walt Disney Company (Southeast Asia), UTV Software, Unilazer (Hong Kong), Rohinton Screwvala and Unilazer Exports and Management Consultant, the company said.

SPOTLIGHT
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..