Filmcity Media Ltd to raise Rs. 25 crores

The Board of Directors of Filmcity Media Ltd at its meeting held on December 11, 2014, has approved raising of funds upto Rs. 25 Crores by way of issuance of Equity Shares of the Company on preferential basis, at a price determined in accordance Chapter VII of SEBI (ICDR) Regulation 2009 subject to the approval of Members.

The Board has constituted a committee of Directors to be called as "Preferential Allotment Committee" which shall be empowered to obtain requisite approvals and to perform all the necessary acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, desirable, incidental or expedient to give effect to the aforesaid proposal.

Shares of FILMCITY MEDIA LTD. was last trading in BSE at Rs.0.83 as compared to the previous close of Rs. 0.81. The total number of shares traded during the day was 1000 in over 2 trades.

The stock hit an intraday high of Rs. 0.83 and intraday low of 0.83. The net turnover during the day was Rs. 830.

Source : Equity Bulls

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