GeeCee Ventures Fully Pays Up Bharti Airtel Rights Shares, Triggers SEBI Disclosure Threshold

GeeCee Ventures Limited ( (IN:GEECEE) ) has issued an announcement.

GeeCee Ventures has converted its 2,30,976 partly paid-up equity shares of Bharti Airtel into fully paid-up shares by remitting Rs. 401.25 per share, totaling Rs. 9.27 crore, in response to Airtel’s first and final call under the rights issue. Following approval from Bharti Airtel’s special committee and stock exchange intimations, this move raises GeeCee’s total cost of investment in Airtel above the SEBI disclosure threshold, prompting the company to update investors that the holding remains a minuscule, non-related-party component of its wider investment portfolio.

The conversion of GeeCee Ventures’ partly paid-up Airtel shares to fully paid-up equity.

The resulting increase in Airtel investment value triggers SEBI disclosure thresholds for GeeCee Ventures.

More about GeeCee Ventures Limited

GeeCee Ventures Limited is a listed investment company that allocates capital across a diversified portfolio, including stakes in large Indian corporates. Its activities include making financial investments that are generally a small component of its overall portfolio, with no strategic or related-party connection to the investee businesses.

Average Trading Volume: 1,017

Technical Sentiment Signal: Hold

Current Market Cap: 5.43B INR

See more data about GEECEE stock on TipRanks’ Stock Analysis page.