| MUMBAI:
Sri Adhikari Brothers Television Network Ltd. (SABTNL) is planning to raise up
to $15 million. The board has been authorised to offer, issue and allot, in a
single or more tranches, through a domestic public issue or a private placement,
equity shares of nominal value of Rs 2 each or equity shares underlying securities
in the form of GDRs (global depository receipts), ADRs (American depository receipts),
or FCCBs (foreign currency convertible bonds). "We have plans to set
up a studio in Mumbai. We will be finalising that within a month," says SABTNL
vice-chairman and managing director Markand Adhikari.The board has given authority
to borrow the aggregate paid up capital and reserve of the company from time to
time, not exceeding Rs 1 billion. SABTN Ltd has also approved
the increase of its authorised capital from Rs 150 million to Rs 200 million through
the creation of 25 million equity shares of Rs 2 each. The board has approved
the declaration of dividend at the rate of six per cent (Re 0.12 per share) on
equity shares of Rs 2 each. | 
