Shree Ashtavinayak to raise $150 mn through various routes

MUMBAI: Media firm Shree Ashtavinayak Cine Vision on Tuesday said it will raise USD 150 million (nearly Rs 720.5 crore) through various routes from both the domestic and international markets.

The board has approved raising funds through Global Depository Receipts (GDRs)or American Depository Receipts (ADR) or Foreign Currency Convertible Bonds (FCCB) or convertible securities linked to equity shares, including qualified institutional placement of share, Shree Ashtavinayak Cine Vision said in a filing to the Bombay Stock Exchange.

Shareholders of the company will meet on October 24 for Extraordinary General Meeting, the filing added.

Shares of Shree Ashtavinayak Cine Vision were trading at Rs 68.75 on the BSE, up 1.03 per cent from previous close.