Sri Adhikari Brothers to raise Rs 25.50 cr via warrants issue
Sri Adhikari Brothers Television Network on Monday said it will raise over Rs 25.50 crore by issuing warrants to various entities on preferential basis to finance expansion plans and for repaying a part of its debt.
By PTI |
MUMBAI: Sri Adhikari Brothers Television Network on Monday said it will raise over Rs 25.50 crore by issuing warrants to various entities on preferential basis to finance expansion plans and for repaying a part of its debt.
The board of directors have approved to issue 1.01 crore convertible warrants to the promoters and other private bodies corporate entities at Rs 25.25 a piece, aggregating to Rs 25.50 crore, Sri Adhikari Brothers said in a filing to the Bombay Stock Exchange.
The company would use the raise funds to finance expansion plans and for repaying a part of its debt, the filing added.
The board has also approved the company's expansion plans, it said.
The proposals are subjected to shareholders approval, it added.
Shares of Sri Adhikari Brothers Television Network were trading at Rs 29.05 on BSE, up 2.11 per cent from the previous close.
The board of directors have approved to issue 1.01 crore convertible warrants to the promoters and other private bodies corporate entities at Rs 25.25 a piece, aggregating to Rs 25.50 crore, Sri Adhikari Brothers said in a filing to the Bombay Stock Exchange.
The company would use the raise funds to finance expansion plans and for repaying a part of its debt, the filing added.
The board has also approved the company's expansion plans, it said.
The proposals are subjected to shareholders approval, it added.
Shares of Sri Adhikari Brothers Television Network were trading at Rs 29.05 on BSE, up 2.11 per cent from the previous close.
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