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
Published - Dec 10, 2018 10:30 AM Updated: Dec 10, 2018 10:30 AM
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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