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MUMBAI:
Infomedia18, a TV18-owned publishing company, has decided
to raise up to Rs 1 billion through rights issue.
The
board will decide the pricing, ratio, timings and other terms
of the rights issue in consultation with the lead managers,
the company informed the BSE.
The
Board has also agreed to increase the authorised capital of
the company from Rs 600 million to Rs 1 billion, subject to
necessary approval of the shareholders.
Infomedia18
has presence in diverse business areas spanning business directories,
magazine publishing and printing services.
Also
Read:
Infomedia18
Q3 net loss at Rs 305.8 million
Fitch
downgrades TV18
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