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May 12, 2008
UTV closes deal with The Walt Disney Company
UTV Software Communications Ltd has today announced the successful closure of its preferential allotment to The Walt Disney Company (South East Asia) Pte Ltd.With this the Promoter Group and Disney will have equal stake of 32.10% in UTV.This was approved today, where the committee allotted 93,52,500 equity shares of Rs. 10/- each at an issue price of Rs. 860.79 per equity share aggregating to around Rs. 8050 million (USD 203 million). The Promoter Group have also subscribed to 45,32,000 warrants at the same issue price.
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