Reliance Broadcast Network Ltd. is likely to make preferential allotment of equity shares to Rakesh Jhunjhunwala, Goldman Sachs, Citigroup and Damani Estates, according to reports.
Late Wednesday evening, Reliance Broadcast said that it aims to raise over Rs4bn by way of preferential issue of shares to promoters and non-promoters.
The promoter group will subscribe to about 2.9 crore shares, totaling approximately Rs2.5bn, and the remaining investors will subscribe to 1.9 crore shares aggregating over Rs1.5bn.
The preferential offer, which is subject to necessary approvals, will be made at a price of Rs85 per share, reflecting a premium of 25% to the last 26 weeks' average price.