Siti Cable Network on Wednesday informed the exchanges that it plans to raise up to ₹680 crore through issuance of warrants and optionally fully convertible debentures (OFCDs) to promoter companies. The company’s board has approved issuance of 14.28 crore warrants convertible at the option of the holder in one or more tranches to Direct Media & Cable Pvt Ltd and/or Arrow Media & Broadband Pvt Ltd, promoter group entities, at ₹35 a warrant. The total value of warrants would not be more than ₹500 crore, the Essel group firm said. Siti Cable further said it will also issue 5.14 crore OFCDs to Digital Satellite Media & Broadband Pvt Ltd, at ₹35 apiece. The total value of OFCDs would not be more than ₹180 crore, the company said and added it also plans to acquire equity stake in seven small companies. Shares of Siti Cable tumbled 4.1 per cent at ₹37.15 on the BSE.

HSBC Global Asset Management Hong Kong Ltd sold 86 lakh shares, or 3.54 per cent stake in Opto Circuits India in the open market on January 1, the asset management company said in an exchange filing on Wednesday. Post-stake sale, HSBC Global Asset owns 1.24 per cent stake in Opto Circuits. Shares of Opto Circuits India ended down 3.42 per cent at ₹15.55 on the NSE.

Published on January 6, 2016