Comments
Zee Media Corporation has sought the Securities and Exchange Board of India’s approval to raise up to ₹200 crore through a rights issue The company would issue equity shares for an amount aggregating up to ₹2,00 crore on rights basis. The draft offer letter filed with SEBI on Monday says the additional capital raised will be used to buy equipment and accessories over the next two financial years for production and broadcasting, to pay off a loan (₹45 crore) from SBI while funding subsidiaries in repaying their own loans (₹60 crore), both by FY2016. The remaining amount raised shall be used for unspecified corporate purposes.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.