MUMBAI: Balaji Telefilms Limited (Balaji Telefilms) has completed the fund raising exercise of Rs. 150.08 crore for its digital venture ALT Digital Media. 1,07,20,000 equity shares  representing 14.1 per cent of  the  equity share  capital of the  company, each having  face  value  of  Rs. 2  each,   have   been   issued   and  allotted  on preferential basis  at  a price  of  Rs. 140  each  for  a total consideration of  Rs. 150.08 crore The shares were issued to  Atyant Capital India Fund  - I, Vanderbilt University, GHILTP Ltd., GHIHSP Ltd. and  GHIERP Ltd. 

The equity shares   will be locked-in for  a period  of one year  from the  date  of trading approval.

The proceeds of the issue will be used to catapult the launch and growth of ALT Digital Media Entertainment Limited (ALT Digital Media), Balaji Telefilm's foray into the B2C digital content business segment touted as the next growth driver for the Company. The board of  directors of  the  company has approved investment of  Rs. 150  crore  in  ALT Digital Media ALT Digital Media  will create  its own  highly differentiated, original digital content platform for the  entire connected ecosystem spanning mobiles, computers, tablets, smart TVs and  game  stations.

Commenting on the completion of the fund raise, Balaji Telefilms group CEO  Sameer Nair, said, "We are delighted to have completed this fund raising to  support our  growth aspirations through ALT  Digital Media. 

We are now on a fast track mode to roll out the ALT Digital OTT platform which is set to redefine the entertainment viewing experience of Indian in India and  across the globe."

The transaction was facilitated by Axis Capital Limited, being the sole investment banker and advisor for the fund raise.