UTV Software Communications & Disney to have equal stake of 32.10% in UTV.
IMP News Wire, dated May 10, 2008

UTV Software Communications has announced the successful closure of its preferential allotment to The Walt Disney Company. As a result of this, he Promoter Group and Disney will have equal stake of 32.10% in UTV.

According to the approval, the committee allotted 93,52,500 equity shares of Rs 10 each at an issue price of Rs. 860.79 per equity share aggregating to around Rs 8,050 million ($ 203 million). The Promoter Group have also subscribed to 45, 32,000 warrants at the same issue price.

In another development, UTV continues to spread its wings in Hollywood, Jay Michaelson, Lawren Sunderland and Weinert are producing the film titled ‘Ex-terminators’ which is being financed by UTV Motion Pictures.