Jagran Prakashan to raise up to Rs 150 crore via securities

NEW DELHI: Media firm Jagran Prakashan Ltd (JPL) today said its board has approved to raise up to Rs 150 crore through issue of securities to augment its resources as well as to retire debt.

The company's board at its meeting held on December 1, 2012 has approved issue of secured non-convertible debentures up to an aggregate value of Rs 150 crore to augment its long-term resources and retire its high interest bearing short-term debt, JPL said in a filing to the BSE.

'Dainik Jagran' is the flagship brand of the company. Shares of the company were trading at Rs 105 apiece on the BSE in late afternoon trade, up 2.99 per cent from its previous close.