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MUMBAI:
UTV Software Communications has announced the closure of its
preferential allotment to The Walt Disney Company (South East
Asia) Pte Ltd.
With
this, the promoter group and Disney will have equal stake
of 32.10 per cent in UTV. The deal will strengthen Disney's
presence in India across movies, TV content, gaming and broadcasting.
The
committee allotted around Rs 8.05 billion of which equity
shares of Rs 10 is each at an issue price of Rs 860.79 per
equity share.
The
promoter group have also subscribed to 45,32,000 warrants
at the same issue price.
In the last financial year, UTV has launched two youth entertainment
channels under the brand name of Bindass, World Movies channel
and a Hindi movie channel UTV Movies.
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