Sri Adhikari Brothers Television Network Limited — Important, 03-07-2025: General Updates

Sri Adhikari Brothers Television Network Limited has announced a board meeting for approving a preferential issue of 1.5 crore equity shares and 6.80 crore convertible warrants, aimed at raising ~Rs 83.02 Cr for working capital. The allotment is to multiple non-promoter investors, with Mr. Kurjibhai Rupareliya acquiring a 27.68% stake post-issue, alongside a purchase agreement to acquire 59.12% from the promoter group, triggering an open offer. Proceeds will be held in secure deposits until utilized. This move signals significant ownership change and capital infusion to support operations.