Tree House Education & Accessories allots 14 lakh shares to Aditya Birla PE Sunrise Fund

The Board of Directors of Tree House Education and Accessories Limited ("Tree House") at its meeting held on December 4, 2012, proposed to issue and allot 18.5 lakh equity shares of Rs. 10 each at a premium of Rs. 222.60 per equity share aggregating to Rs. 41.18 crore on preferential allotment basis to Aditya Birla Private Equity Sunrise Fund and ON Mauritius. The investors in the Company include an existing shareholder ON Mauritius (4.5 lakh equity shares aggregating to Rs. 10.01 crore) and Aditya Birla Trustee Co. Pvt. Ltd. (14 lakh equity shares aggregating to Rs. 31.16 crore) for and on behalf of Aditya Birla Private Equity - Sunrise Fund.

The Board of Directors of Tree House, have considered, approved and recommended (for the approval of the Shareholders of the Company), an increase in the Authorised Share Capital of the Company from existing Authorised Share Capital of Rs. 35.50 crore to Rs. 40.50 crore divided into 4 crore equity shares of Rs. 10 each.

A meeting of Shareholders in this regard is scheduled to be held on December 27, 2012.

Antique Capital Markets Private Ltd. acted as an advisor to the Company for the transaction.

Source : Equity Bulls

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