Sri Adhikari Brothers Television Network Limited has informed the Exchange regarding Board meeting held on Jun 14, 2025.
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Sri Adhikari Brothers Television Network Limited (SABTNL) held a board meeting on June 14, 2025 with several major decisions. The Board approved increasing the authorised share capital from Rs. 48.5 crore to Rs. 111 crore, subject to shareholder approval. It also approved a preferential issue of up to 1.5 crore equity shares at Rs. 10 per share and up to 6.8 crore convertible share warrants at Rs. 10 each, potentially raising around Rs. 83 crore from over 100 allottees including several Foreign Portfolio Investors. Ms. Bhawna Saunkhiya was appointed as the new Company Secretary and Compliance Officer. An Extra-Ordinary General Meeting has been fixed for July 14, 2025 to seek shareholder approval. Importantly, the existing promoter M/s Ruani Media Service Limited has signed a Share Purchase Agreement to sell its 1.5 crore equity shares (about 59.12% of total shareholding) to Mr. Kurjibhai Premjibhai Rupareliya, indicating a change in control of the company.
This announcement signals a likely change of control, with the existing promoter group selling its entire ~59% stake to a new acquirer, and the company planning a large equity and warrant dilution. Existing shareholders should expect significant dilution and a shift in promoter identity; short-term stock price could be volatile as the market digests the change in ownership and the size of the preferential issue.