Corporate News
Bodhi Tree Multimedia Limited is seeking shareholder approval to raise funds through a Qualified Institutional Placement (QIP) for general corporate purposes. The QIP, requiring approval under the Companies Act, 2013, will offer eligible securities to Qualified Institutional Buyers, with the issue price determined by the Board, subject to a floor price and potential discount of up to 5%. Securities will be subject to a one-year lock-in period for QIBs, and a SEBI-registered credit rating agency will monitor fund utilization quarterly. Promoters, directors, and related parties are restricted from participating, and at least 10% of the offering must be allocated to mutual funds. The Board is authorized to finalize the terms and schedule the QIP, adhering to regulations including FEMA.