New Delhi: Global investment firm Goldman Sachs is increasing its shareholding in cable TV service provider Den Networks to 24.9 per cent by picking up over 1.58 crore shares for Rs 142.43 crore via preferential allotment.
The board of the company has approved allotment of 1.58 crore shares having a face value of Rs 10 to Goldman Sachs, Den Networks said in a filing to the BSE.
The issue price of the preferential allotment is Rs 90 per equity share, including premium, it added.
"With the aforesaid allotment, the holding of affiliates of the Goldman Sachs Group Inc will go up from 17.79 per cent to 24.49 per cent. The total consideration will be Rs 142.43 crore," the filing said.
The company said the transaction would be subject to shareholders approval.
At 3:23 p.m., shares in Den Networks were trading 3.13 per cent higher at Rs 80.80 apiece on the BSE, whose benchmark Sensex index was down 0.40 per cent.
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