Date:28/5/11,
Public Equity,
Reliance Mediaworks Ltd today said it will raise up to INR 5billon through an issue of equity shares to its existing shareholders.
In a filing to the Bombay Stock Exchange, the company said: "The board of directors has approved raising an amount not exceeding INR 5 billion by way of rights offer of equity shares to the company's shareholders, subject to necessary sanctions, approvals and applicable provisions of law."
The company, however, said the price, share entitlement ratio, timing of the issue would be decided later.
"The board of directors has empowered its committee to decide upon the terms and conditions including the price, share entitlement ratio, timing and other details and modalities for the issue, which shall be informed in due course," it said.
In a filing to the Bombay Stock Exchange, the company said: "The board of directors has approved raising an amount not exceeding INR 5 billion by way of rights offer of equity shares to the company's shareholders, subject to necessary sanctions, approvals and applicable provisions of law."
The company, however, said the price, share entitlement ratio, timing of the issue would be decided later.
"The board of directors has empowered its committee to decide upon the terms and conditions including the price, share entitlement ratio, timing and other details and modalities for the issue, which shall be informed in due course," it said.
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