I was browsing thru announcements on the BSE site and came across this
"K Sera Sera Productions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 13, 2008, inter alia, has considered the following points.
1. The Board has constituted the committee, who shall allot the Fully Convertible Warrants to Yes Bank Ltd on preferential Basis."
Yes bank making movies :-)
Clearly the company is in a bad shape and I m sure this is Yes Bank's way of converting a dud loan into a equity stake. I m sure we will see a lot of this going forward.
Tuesday, October 14, 2008
K Sera Sera - What would be would be
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4 comments:
Any idea about the quantum of this particular transaction?
Hi Subhankar
Recent aanouncement on BSE talks about 8.65 lacs full convertible warrants of Rs 100. This translates into Rs 8.65 crore.
Cheers
Ninad
Thanks, Ninad.
That's not a King's ransom and won't break the bank. But doesn't reflect well on K Sera Sera's business model!
Subhankar
Sure. I agree that its not a large sum. It was just a harbinger of more such deals/ loan restructuring happening as the downturn starts affecting businesses.
Cheers
Ninad
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