Now the proposal is subject to shareholders and other necessary approvals and compliance with applicable laws and regulations.
Hathway said in its filing to BSE: “Subject to the shareholders’ and other necessary approvals and compliance with applicable laws and regulations, raising of funds up to Rs. 100 crore by way of creating, offering, issuing and allotting, in one or more tranches (Preferential Allotment) such number of equity shares of face value Rs. 2 each of the Company for an aggregate investment amount of up to Rs. 100 crore (inclusive of such premium as may be fixed on such equity shares) on a preferential basis to Hathway Investments Private Limited, an entity forming part of the promoter group, at an issue price per equity share not less than the minimum price determined in accordance with the provisions of Chapter VII of the Securities and Exchange Board of India (Issue of Capital Disclosure Requirements) Regulations, 2009 or at a price of Rs. 32.25, whichever is higher.”