RSS FeedTV18 To Raise $22 Million Via Equity Or Debt; HSBC Gets Mandate
Tue, 08/29/2006 - 12:32 — Sahad P VDelhi-based media group Television Eighteen India Ltd intends to raise Rs 100 crore or $22 million by placing equity shares or convertible bonds with foreign institutional investors (FIIs). HSBC has been mandated to manage the issue.
An EGM of the company had cleared a proposal enabling the board to raise Rs 300 crore. The group has lately been active in acquisitions. Its web division - Web18 - had acquired three internet properties - Cricketnext.com, Compareindia.com (product comparison portal), and Urban Eye Media, a web design firm. It's also setting up a Rs 50-crore Media Venture Capital Trust (MVCT). [Via Contentsutra.com]
