Balaji to convene EGM on 17 September

MUMBAI: Balaji Telefilms has informed Bombay Stock Exchange (BSE) that an extraordinary general meeting (EGM) will be held on 17 September.

According to the announcement posted on the BSE website, the EGM will consider the following:

1. Increase in authorised share capital from Rs 110 million to Rs 150 million.

2. Alteration of MoA and AoA.

3. Preferential allotment of shares: To offer, issue and allot upto 13,694,193 equity shares and share warrants convertible into 35,69,597 equity shares representing in aggregate upto 25.1 per cent of the total post issue paid up equity share capital of the Company at Rs 90 per equity share of Rs 2 each (aggregating to an issue price of Rs 1,553,741,100 to Asia Broadcasting FZ-LLC, Dubai Technology, Electronic Commerce & Media Free Zone, an affiliate of the Star Group Ltd, Hong Kong (Asian Broadcasting) on a preferential allotment basis.