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 percent 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 percent to 24.49 percent. The total consideration will be Rs 142.43 crore," Den Network said in a BSE filing. – Business Standard