What happened
FactThe board approved, subject to shareholder and other applicable approvals, a preferential issue of up to 1,04,00,000 equity shares and up to 8,84,50,000 convertible warrants at ₹10 each. It also proposed acquiring 90.82% of Fusionnet Web Services Limited from SAR Televenture Limited for ₹256.84 crore, to be paid through 3.20% redeemable cumulative non-convertible preference shares; the target would become a direct subsidiary upon completion.
Rs. 256.84 CroreProposed acquisition consideration
consideration to acquire 90.82% of Fusionnet Web Services Limited
90.82%Target stake proposed to be acquired
issued, subscribed and paid-up equity share capital of Fusionnet Web Services Limited
1,04,00,000Equity shares proposed under preferential issue
maximum equity shares at Rs. 10/- per share
8,84,50,000Convertible warrants proposed
maximum warrants at Rs. 10/- per warrant
Rs. 10,40,00,000/-Equity-share issue aggregate
aggregate value of proposed equity-share preferential issue
Rs. 88,45,00,000Warrant issue aggregate
aggregate value of proposed convertible-warrant preferential issue
3.20%RNCPS coupon
redeemable cumulative non-convertible preference shares issued as acquisition consideration
10 yearsRNCPS redemption period
redemption from date of allotment