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Mumbai, April 7

Sahara One Media & Entertainment Ltd said its board of directors had approved raising $50 million through an issue of equity or bonds in the overseas markets. It could either be preference shares, convertible debentures, convertible notes, foreign currency convertible bonds, secured premium notes, American Depository Receipts or Global Depository Receipts. The company has scheduled an extra ordinary general meeting on May 8, to obtain its shareholders' consent. Shares of Sahara One ended unchanged at Rs 370.05 in Friday's trade on the BSE.

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