Television Eighteen India Ltd today said its board has approved a rights issue of Rs510 crore and that promoters have undertaken to subscribe any unsubscribed portion of the issue. Proceeds will primarily be used to repay debt. “The pricing, ratio, timings and other terms of the Rights Issue shall be decided by the Rights Issue Committee of the Board of Directors, in consultation with the lead managers to the Right Issue,” the company said in a statement to the Bombay Stock Exchange. ICICI Securities Ltd is the lead manager to the issue.
The board has also approved an increase in the authorized share capital of the company from Rs105 crore to Rs205 crore, subject to the approval of shareholders.
The company is expected to launch the Indian edition of Forbes magazine through an arrangement with Forbes Media, within the next week.
Television Eighteen India Ltd today said its board has approved a rights issue of Rs510 crore and that promoters have undertaken to subscribe any unsubscribed portion of the issue. that is very good . thanks for the post
Many will be looking forward with this special edition. In this way, everything will be explained clearly and more detailed.