TV18 to raise Rs 200 million for expansion

MUMBAI: Television Eighteen Ltd's annual general meeting (AGM) held on 25 June proves to be an interesting proposition. The key issue addressed at the forum was the approval of the authorised share capital of the company by Rs 200 million.     

The Rs 200 million jump came in terms of the increase in preference shares from Rs 50 million comprising 5,00,000 preference shares of Rs 100 each to Rs 250 million comprising 25,00,000 preference shares of Rs 100 each.

The consequent effect would be given in the MOA (memorandum of association) of the company.

What would the approval of this additional Rs 200 million mean for TV Eighteen?

Industry sources say the company is gearing up for the launch of its much- awaited Hindi business channel, all set to be on air by the end of this year. Also, a significant upgradation of the English business service will be witnessed in the coming months in terms of infrastructure as well as human resource.

Speaking to Television 18 Ltd CEO Haresh Chawla elaborated, "It is a feel good time for TV18 as the channel is doing extremely well in terms of business reportage as well as on the ad sales front. We are also keenly exploring the Hindi speaking market and are gearing ourselves to make an entry into the Hindi arena."

The AGM also approved the issue of an amount not exceeding Rs 500 million equity share or preference shares or debts and / or securities convertible into equity shares in one or more phases from time to time.

The other issue addressed at the forum was the stratification of ESOPs (employee stock option plan) in terms of TV 18 Employees Stock Purchase Plan 2004, TV 18 Senior Employee Stock Option Plan 2004 and TV18 Employee Stock Purchase Plan 2004 of the company. When questioned as to why the stratification was being done, Chawla commented, "The company has different people at different levels and hence this is an endeavour to ensure different customised retention plans."

Latest Reads
US$ 4.5 bn expected from IPL rights; SC recommends accounts scrutiny

The Supreme Court on Friday froze all financial transactions between the BCCI and state cricket associations by directing the apex body not to disburse any funds till it resolves to abide by the Justice RM Lodha panel recommendations on reforms by 3 December . The top court ordered that none of...

Television TV Channels Sports
TVS Tyres is co-presenter for Asian Champions Trophy 2016

Continuing its strong connect with sports, TVS Tyres has associated with Asian Champions Trophy 2016 by becoming the co-presenter. The Asian Champions Trophy is one of the premier hockey tournaments, a much sought after annual international competition promising some great hockey action. This...

Television TV Channels Sports
Q2-17: Zee Learn declares maiden interim dividend

The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter).

Television TV Channels Factual & Documentary
Whether BARC action can stop unethical practices?

MUMBAI: Can businesses and industries practise their art of selling fairly although they have 'Fair Practices' training during academic courses, workshops and several ISO and other certifications? There seems to be the fear of the lawman, and not the law in India. If the traffic cop is watching,...

Television TV Channels Viewership
TV Superhighway: beIN, Yaddo, AfricaXP have joined us, says Magine CEO Ambuj Goyal

CANNES; Magine has secured partnerships with four of the industry’s most exciting sports, documentary and entertainment content providers. Partnerships with beIN, the international media group and owner of MIRAMAX; Yaddo, the new documentary streaming service headed up by former head of The BBC’s...

Television TV Channels Factual & Documentary
Colors emerges strong on strength of Naagin I & II

MUMBAI: One of the top rated shows Naagin Season 2 helped Colors reach a top-ranking position.

Television TV Channels GECs
Pakistan Broadcasters Association to oppose PEMRA Indian content ban

MUMBAI: The Pakistan Electronic Media Regulatory Authority (PEMRA) shocked both Pakistan and Indian broadcasters when it issued an order blanking out  all Indian content from Pakistan’s television channels on 19 October.

Television TV Channels GECs
Sony Pix to telecast 'Jurassic World' on 22 October

Sony Pix will take the viewers on a thrilling, adventurous journey with cloned dinosaurs in their Billion Dollar Premiere property. The channel plans to air Jurassic World on 22 October at 1 pm and 9 pm.

Television TV Channels English Entertainment
Sony AXN scripts deal with Pinewood; buys stake in SVOD service Hopster

Folks at Sony Pictures Television (SPT) are in a celebratory mood. Not only has it signed a six-series deal with Pinewood Television but has also acquired a minority stake in the London-based video subscription service for kids content - Hopster.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories