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The Board of 7Seas Entertainment Limited approved increasing the Authorised Share Capital from Rs. 23 Crore to Rs. 25 Crore (2.30 Cr to 2.50 Cr equity shares of Rs. 10 each). It cleared a preferential issue of up to 13,75,000 convertible warrants at Rs. 80 each to promoters and non-promoters, aggregating Rs. 11 Crore. It also approved preferential issue of up to 6,00,000 equity shares at Rs. 80 each to non-promoters (Rs. 4.8 Crore) and 1,90,000 equity shares at Rs. 80 each by converting unsecured loans from promoters (Rs. 1.52 Crore). Additionally, statutory auditor M/s Sathuluri & Co was reappointed for 5 years, two directors retired by rotation and were reappointed, two directors (Mr. B. Mohan Rao and Mrs. C. Sita Visalakshi) resigned, the company logo was changed, MD remuneration was increased, and the 34th AGM was scheduled for September 30, 2025 via video conferencing.
The combined preferential issuance of up to 21,65,000 securities at Rs. 80 each (roughly Rs. 17.32 Crore total) will lead to dilution of existing shareholders. Post-allotment, promoter holding is projected at 29.94% and public holding at 70.06%. The unsecured loan conversion into equity strengthens the balance sheet but increases promoter shareholding through debt-to-equity swap.