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Our Bureau

New Delhi, Sept. 5 IBN18 Broadcast’s board of directors has approved the company’s plans to raise funds to the tune of Rs 400 crore for its expansion plans.

The company sees growth from the ventures under Viacom 18 which has successfully launched the new channel Colors, regional channels and also from the international distribution of its news channel IBN.

The modes of fundraising, whether Qualified institutional placements, Foreign Currency Convertible Bonds or other modes, number of tranches and other details is not likely to be finalised before October for when the Board has scheduled an extra-ordinary general meeting.

According to industry sources, the network which already runs IBN Lokmat could look to add another regional news channel in six months’ time.

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