Brightcom Group to allot 1,40,70,000 shares for acquisition of MediaMint

The Board of Directors of Brightcom Group in its meeting held on December 09, 2021, have approved the allotment of equity shares for the acquisition of MediaMint.

For the purposes of consummation of the previously announced purchase of ("MediaMint"), the board approved issue and allotment of 1,40,70,000 Equity Shares to Mr. Aditya Vuchi, Ms. Neelima Marupuru, Mr. Sunil Kumar Varma Potturi and Vuchi Media Employee Welfare Trust through a Preferential allotment at Rs. 120.02/- each (face value of Rs. 2/- each) at a premium of Rs. 118.02/- for an allotment size of (Rs. 168,86,81,399) (Rupees One Hundred & Sixty-Eight Crore Eighty-Six Lakhs Eighty-One Thousand Three Hundred and Ninety-Nine only) subject to members and regulatory approvals, towards the Stock consideration as decided in the Share Purchase Agreement dated December 07, 2021.

Shares of Brightcom Group Limited was last trading in BSE at Rs. 152.75 as compared to the previous close of Rs. 145.50. The total number of shares traded during the day was 35812 in over 199 trades.

The stock hit an intraday high of Rs. 152.75 and intraday low of 152.75. The net turnover during the day was Rs. 5470283.00.

Source : Equity Bulls

Keywords

BrightcomGroup INE425B01027 BCG StockConsideration Acquisition Allotment MediaMint