ITV

Category: Adlabs

  • Adlabs raises FCCBs for $100 million, net worth to rise to over Rs 9 billion

    MUMBAI: Adlabs Films Ltd. has today successfully concluded an offering of Foreign Currency Convertible Bonds (FCCBs) in the international markets for approximately $100 million.

    The issue was heavily over-subscribed by leading institutional investors from across Asia, Europe and the US. “This is the largest ever FCCB by any media company, engaged in the production, processing, distribution and exhibition of films in India,” the company said in a release.

    The maturity period of the zero interest coupon is five years. The conversion price will be at nearly Rs 550 per share, which represents a premium of over 50 per cent to the average closing price of the three trading days prior to the offering.

    Adlabs said on full conversion of outstanding equity warrants and the FCCBs, the net worth of the company would rise to over Rs 9 billion.
     
    The proceeds will be utilised for growth of Adlabs’ various businesses, including production, processing, distribution and exhibition of films.

    Adlabs Films is majority owned by the Reliance Capital group, part of the Anil Dhirubhai Ambani Enterprises.

  • Adlabs shareholders give nod to Reliance deal

    MUMBAI: Adlabs Films has approved issue and allotment of 1,10,00,000 equity shares and 38,00,000 warrants to Reliance Land Pvt Ltd. at a price of Rs 175.20 each directly and/or to its affiliates/associates on a preferential basis.

    The company has also approved increase in authorised share capital to Rs 250 million and alteration in capital clause of memorandum of association.

    Adlabs informed BSE on Saturday that the shareholders of the company at its Extra Ordinary General Meeting (EGM) held on 26 July had given the nod to these proposals.

    Reliance Land, a part of the Reliance Capital Group, recently announced it was acquiring for Rs 3.50 billion ($83 million) a 51 per cent controlling stake in Adlabs Films, a leading motion picture processing laboratory which also runs a chain of multiplexes.