ITV

Tag: ADR

  • Balaji Telefilms receives board nod to raise Rs 250 crore

    Balaji Telefilms receives board nod to raise Rs 250 crore

    MUMBAI: With a target set to make digital B2C (business to consumer) under the ALT Digital umbrella as its core business in five years’ time, the Ekta Kapoor helmed Balaji Telefilms Ltd is arming itself with a war chest of funds to enter the market with guns blazing.

     

    The company, which was looking at raising Rs 250 crore to ramp up its digital business, has nowreceived board approval for the same. 

    The funds will be raised by way of QIP, GDR, ADR, FCCB, other securities linked to equity, preference shares or any instrument or securities representing convertible securities. 

    This is subject to approval of the company’s shareholders and other necessary approvals. 

    Additionally, the board has also approved to increase the authorised share capital of the company from Rs 20 crore to Rs 26 crore, subject to approval of shareholders.

  • CNN-IBN & IBN7 in partnership with ADR launch MP Ka Report Card

    CNN-IBN & IBN7 in partnership with ADR launch MP Ka Report Card

    MUMBAI: With almost 8,000 candidates from over 1,400 political parties, 814 million eligible voters, and nine phases, India’s 16th General Election is going to be the largest electoral exercise that the world has ever witnessed. The big question: Who should we vote for?

     

    To help the voters make up their minds, CNN-IBN and IBN7, in partnership with ADR, have come up with a unique initiative called *MP**’s Report Card and MP** Ka Report Card*, a special survey-based news segment that illeducate the voters about their leaders and help them taking informed decisions.

     

    Starting March 18, this special high-frequency segment will cover the work done by our MPs, their successes and failures. The survey will cover around 250,000 people in 530 constituencies, making it the largest such survey ever undertaken.

     

    Rajdeep Sardesai, Editor-in-Chief, CNN-IBN, IBN7 & IBN-Lokmat, said,”The common man can make or break a government. As a news network, it’s our responsibility to educate our voters and keep them informed about the leaders they are going to vote for. With MP’s Report Card, we want to enable voters to truly understand the performance of their current MPs and take decisions accordingly.”

     

    Don’t miss the special segments starting 18th March, Monday to Friday, throughout the day only on CNN-IBN & IBN7.

  • WWIL likely to raise $100 million via QIP

    WWIL likely to raise $100 million via QIP

    MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group’s demerged cable company, is likely to raise $100 million through qualified institutional placement (QIP) to fund its expansion programme including digitalisation and acquisition of cable operators.

    “WWIL is likely to raise $100 million via QIP as part of its fund raising programme but will take a final decision on this soon. Everything will depend on the market conditions,” a source close to the company says.

    When contacted, WWIL managing director Jagjit Singh Kohli said the exact amout and instrument has not yet been decided. “I will be able to comment after we have decided and taken the shareholders’ approval,” he added.

    WWIL is making a preferential issue of convertible warrants to Jayneer Capital, a promoter group company, up to Rs 1.31 billion as part of its fund raising programme. This will translate to around 5 per cent equity in WWIL. The conversion price of the warrants into equity shares will be at Rs 122. The company has convened an EGM (Extra Ordinary General Meeting) on 26 February for shareholders’ approval on the issue of preferential warrants.

    “The dilution, along with the warrants, will be around 20 per cent at the current prices if WWIL takes up the $100 million mopping up exercise through QIP,” the source says.

    WWIL has aggressive plans to expand its digital cable business and had earlier projected a fund requirement of Rs 7.14 billion over two years.

    The company recently announced that it would seek shareholders’ approval for raising up to $250 million (approximately Rs 11.25 billion). The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants.
     

  • WWIL plans to raise up to $250 million

    WWIL plans to raise up to $250 million

    MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group’s demerged cable entity, plans to raise up to $250 million (approximately Rs 11250 million) for funding its expansion programme including digitalisation and acquisition of operators.

    The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants. The board has decided to convene a general meeting of the shareholders.

    “This is is just an enabling resolution and we plan to decide on the amount we are going to raise and how within 15 days,” says WWIL managing director Jagjit Kohli.