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Composite equity issue from SAR Tele

Composite equity issue from SAR Tele
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Mumbai: SAR Televenture Limited,a leading provider of telecommunication solutions to Telecom Network Operators has announced a Composite Equity Issue worth Rs450 crore. The issue comprises of a rights issue aggregating up to Rs300 crore and an FPO of up to Rs150 crore.

The proposal for fund raising was approved at a meeting of the Board of Directors of the Company held on 20 January 2024. The Rights Issue will comprise 1,50,00,000 fully paid up Equity shares of Rs2 each at an issue price of Rs200 per Rights share (including premium of Rs 198 per rights share).

The Rights issue will open through 15-22 July. Existing shareholders will get 1 (one) rights share for 1 (one) equity share held as on 9 July 2024 for. The firm’s Further Public Offer (FPO) is set between Rs200 to Rs210 per equity share

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