Shree Ashtavinayak to raise US$ 50 million

Shree Ashtavinayak Cine Vision Ltd has announced that the Board of Directors of the Company at its meeting held on July 02, 2007, inter alia, has considered and constituted Committee of Board:

1. To raise further funds by issue of securities on preferential basis as per SEBI guidelines 2000 to selected group or persons and FCCB to the extent of USD 50 Million for the purpose of long term Working Capital requirements for expansion of business activities of the Company including Production and Distribution of Films in Vernacular Languages.

2. To convene Extra Ordinary General Meeting of the Company.

Source : Equity Bulls

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