TV18 to raise 398 cr

TV18 to raise 398 cr

Mumbai: Electronic media house Television 18 on 7 September said it will raise 398 crore through the allotment of 50 lakh convertible warrants to promoter group company on preferential basis.

The board of directors of Television 18 at its meeting today approved the allotment of 50 lakh convertible warrants at 796 each to Network18 India Holding Pvt Ltd, a 100 per cent subsidiary of Network 18 Fincap Ltd.

The allotment of warrants would be subject to shareholders approval, Television Eighteen said in a filing to the Bombay Stock Exchange.

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