• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Ambarish Mukherjee

The company plans to enter the capital market.

New Delhi , Nov. 1

Raj Television Network Ltd has sought permission from the Foreign Investment Promotion Board (FIPB) for inducting up to 26 per cent foreign equity in the company as foreign direct investment (FDI).

In an application filed with the FIPB, the company has asked the board to permit foreign institutional investors, non-resident Indians, foreign venture capitals, multilateral and bilateral development financial institutions and other foreign investors to invest up to 26 per cent of the company's post public issue equity capital, sources said. The company plans to enter the capital market and has filed the draft red herring prospectus with the Securities and Exchange Board of India.

The exact amount of FDI that could be coming in cannot be ascertained since the public offer would be through the book building route for which the price band is yet to be announced.

According to the application filed with the FIPB, the company intends to allot equity shares having a face value of Rs 10 each to foreign investors through its initial public offer.

Raj Television plans to issue 35,68,250 shares out of which 22,70,700 shares would be issued fresh and an offer for sale of 12,97,550 shares by the existing shareholders.

The funds would be used to fund a new television channel, extend broadcasting to international markets, enhance content and content acquisition, produce short films and telefilms, acquire and export films in international markets, construct a new studio and strengthen existing facilities.

More Stories on : Regulatory Bodies & Rulings | Foreign Direct Investment | IPOs | Radio/TV

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
JSW Steel hikes price

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line