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MUMBAI:
Mumbai-based production house Filmcity Media is planning to
launch a 24 hour health channel. The content will be centred
around alternate healing, yoga, spas, gym and medical science.
The
company is earmarking an investment of Rs 160 million for
this venture.
Filmcity
Media proposes to raise Rs 28.5 million by way of allotment
of securities on preferential basis.
It also has approved making an offer of shares on rights basis
to the extent of Rs 4.91 million to meet part of the project
cost.
The
balance amount is to be raised through borrowing and/or further
preferential issue in a phased manner, the company said in
a statement.
The
company also intends to increase its authorised share capital
from Rs 80 million to Rs 110 million.
Incorporated
in April 1994, Filmcity Media
started initially as a publishing house and later stepped
into TV production. It has produced tele-serials like Kahin
Der Na Ho Jaye for SaharaOne and Kaalchakra. The
main content supply is to Doordarshan.
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