IBN18 Broadcast to raise Rs 400 Crores

IBN18 Broadcast Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2008 has approved, subject to the approval of the shareholders, the raising of funds to the tune of Rs 400 crore through the issue of equity shares, secured or unsecured debentures, bonds or any other security, including, but not limited to, Foreign Currency Convertible Bonds, Optionally Convertible Debentures, Bonds with share warrants attached, Global Depositary Receipts, American Depositary Receipts, in one or more tranches, through a public issue and/ or on a private placement basis and/ or qualified institutional placement within the meaning of Chapter XIIIA of the SEBI DIP Guidelines and/or preferential issue under Chapter XIII of the SEBI DIP Guidelines and/ or any other kind of public issue and/or private placement as may be permitted under applicable law as amended from time to time.

The Board has also approved convening of an Extra -ordinary General Meeting of the Company on October 01, 2008 for the taking the shareholders approval for the aforesaid matter.

Source : Equity Bulls

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