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TV Eighteen India Ltd (TV18) has decided to raise up to Rs 500 million for funding its expansion. It plans to raise this amount through rights issue, preferential issue, private placement of equity, preference shares and/ or debt. This was announced by the company in a statement to the Bombay Stock Exchange (BSE) today after its Board of Directors meeting.
The company also announced that the Board had approved alteration of bylaws of the company to enhance the authorised preference share capital and introduced new Employees Stock Option Plan & Employee Stock Purchase Plan.
The decision to consider and approve the same will be taken at the company’s 11th annual general meeting on June 25 this year.