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Reliance MediaWorks board approves $111 mn rights issue

Reliance MediaWorks board approves $111 mn rights issue
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First Published: Sun, May 29 2011. 03 51 PM IST
Updated: Sun, May 29 2011. 03 51 PM IST
Mumbai: The board of Indian film and entertainment company Reliance MediaWorks has approved raising up to Rs 500 crore ($111 million) through a rights equity issue, the company said.
The timing, pricing and other details would be announced later, Reliance MediaWorks said in a statement to the stock exchanges late on Saturday.
Reliance MediaWorks, controlled by Indian billionaire Anil Ambani, operates cinemas, film and media services and television production.
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First Published: Sun, May 29 2011. 03 51 PM IST