Network18 gets shareholder nod to raise up to Rs 1,000 cr

New Delhi: Network18 Media & Investment today said its shareholders have approved a proposal to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs), foreign currency convertible bonds and/or bond with share warrants in one or more tranches.

 Network18 gets shareholder nod to raise up to Rs 1,000 cr

The Network18 logo.

The company had tabled a special resolution to raise the amount of Rs 1,000 crore through issue of secured/unsecured non-convertible debentures (NCDs), foreign currency convertible bonds and/or bond with share warrants in one or more tranches at its annual general meeting held on 28 September.

Network18 Media & Investment said 98.94 percent of votes were polled in favour of the resolution.

The stock closed at Rs 48.10, down 1.64 percent on BSE.

(Disclosure: Firstpost is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.)

PTI

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Updated Date: Oct 01, 2015 20:19:36 IST