SAR Televenture Limited announces Composite Equity Issue of ₹ 450 crore

• Fund raising of equity share will be Composite of Rights  Issue (“RI”) and Further Public Offer (“FPO”);

• For existing shareholders record date of Rights issue is Tuesday, July 09^th, 2024. One Rights  Share will be allocated to existing shareholder for every one Equity Share held;

• The price band of FPO will be ₹ 200 to ₹ 210 per Equity Shares;

• Net proceeds from FPO and RI will be utilized,  inter alia towards funding capital expenditure and working capital augmenting future growth;

Mumbai: SAR Televenture Limited (NSE Symbol: SARTELE) announces Composite Equity Issue of ₹ 450 crore. The Composite Issue comprises Rights Issue aggregating up to ₹ 300 crore and FPO aggregating up to ₹ 150 crore (The “Total Offer Size”).

The proposal for fund raising of an amount up to ₹ 450 crore through issuance of equity shares through Composite Issue was approved at the meeting of the Board of Directors of the Company held on 20^th January 2024.

The Rights  Issue will comprise 1,50,00,000 fully paid up Equity Shares of Rs. 2 each at an issue price of ₹ 200 per Rights  share (including premium of ₹ 198 per Rights  Share). The Rights Issue will open on Monday, July 15^th 2024 and close on Monday, July 22^nd, 2024. (The “Rights Issue and Offer Period”)

Existing shareholders will get 1 (one) Rights  share for 1 (one) equity share held as on record date Tuesday, July 09^th 2024 for the purpose of date determining the equity shareholder’s entitled to receive the Rights  Entitlement in the Rights  Issue (“Eligible Equity Shareholders for Rights  Issue”)

The price band of FPO will be ₹ 200 to ₹ 210 per Equity Share. (The “FPO Price Band”)

	Further Public Offer(FPO)	Rights  Issue (RI)
Issue Size	Rs 150 crore	Rs 300 crore
Price Band	Rs 200 to Rs 210 per equity share	Rs 200 per Rights  share (including premium of Rs 198 per Rights  share)

The Company proposes to utilize the Net proceeds towards (i) funding setting up of Fiber-to-the-Home (FTTH) network solutions for 3, 00,000 Home Passes estimated to be ₹ 273 crore; (ii) Setting up of an additional 1000 number of 4G/5G telecom towers estimated to be ₹ 42.50 crore; (iii) Incremental working capital requirement of our Company estimated to be ₹ 30 crore and balance amount towards General Corporate purposes to be utilized in FY 2025. (The “Objects of the Offer”)

The Company’s share price and Market Capitalization as on July 03, 2024 was ₹ 265.70 and ₹ 398.55 crore respectively. The Company’s share price touched 52 week high of ₹ 332.05 on February 07, 2024.

Pantomath Capital Advisors Private Limited is the sole book running lead manager of the Issue.