Business Daily from THE HINDU group of publications
Thursday, April 5, 2007
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Business Daily from THE HINDU group of publications Thursday, April 5, 2007 |
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News Update as at 18.00 hrs (IST)
Corporate MUMBAI: Broadcaster company Sun TV on Thursday said that its board has recommended the sub-division of equity shares in a way that a shareholder having one share of Rs 10 (face value) would be entitled to receive two shares of Rs 5 each. The board has also recommended hiking the authorised share capital of the company to Rs 225 crore, from the existing Rs 100 crore to accommodate the fresh issue of shares consequent to the merger, Sun TV said in a filing to the BSE. Sun TV had recently merged Gemini TV and Udaya TV with itself. Gemini TV owns Gemini TV, Teja TV, Gemini News, Gemini Music and Gemini Cable Vision while Udaya TV owns four television channels - Udaya TV, Udaya Movies, Udaya Varthegalu and Udaya TV II. Meanwhile, certain proposals to increase the limit to borrow and invest funds were also approved at today's meeting. - PTI
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