Radaan Media Works offloads 24% stake to JBCG Advisory to raise Rs 3.5 Cr
The Company is launching television soap, ‘Chandrakumari’ on December 10, 2018
Radaan Mediaworks, promoted by actress Raadhika Sarathkumar, has decided to offload nearly 25% stake to former Stanchart head honcho, Jaspal Singh Bindra’s M/s. JBCG Advisory Services Private Limited, say reports.
As per the deal, Radaan will issue 17.5 million equity shares of Rs.2/- face value on preferential basis to at a price of Rs.2/- per share to JBCG Advisory that is aggregating to Rs.3.5 Crore.
Radaan Mediaworks was founded as a proprietary concern in the early 90s and converted into a listed entity in 1999.
The Company is launching television soap, ‘Chandrakumari’, being aired in all four South Indian languages starting with Tamil version on Sun TV from December 10, 2018.
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