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Awaiting price reaction for this filing.
7Seas Entertainment Ltd has informed the BSE that it will appoint a SEBI-registered Monitoring Agency to oversee the use of funds raised through its proposed Preferential Issue of Equity Shares. This appointment is required under SEBI regulations when companies raise capital through preferential routes. The appointment will be presented to the Board of Directors for approval in their upcoming board meeting. Once approved, the company will share further details with the stock exchanges within prescribed timelines.
This is a procedural compliance step ahead of the company's planned preferential equity issuance, signaling that a capital raise is in the pipeline. Shareholders should watch for the board's formal approval and subsequent disclosures on the issue size, price, and purpose of fund usage.