| MUMBAI:
Sri Adhikari Brothers Television Network Ltd is planning to launch regional entertainment
channels for which it is looking at raising up to Rs 1 billion.
The
company is considering various instruments for fund raising, including preferential
issue, rights issue, public issue, qualified institutional placements (QIPs),
foreign currency convertible bonds (FCCBs) and global depositary receipts (GDRs)
and American depositary receipts (ADRs). The
company has also approved the offering and issue of up to 2.92 million warrants,
carrying an option /entitlement to subscribe equivalent number of equity shares
of Rs 10 each for preferential issues, to the promoter group. This
will help the promoters to finance the initial funding requirement of wholly owned
subsidiaries for launch of channels and for general corporate purposes.
Meanwhile,
the board has given the nod to hike its authorized share capital from Rs 200 million
to Rs 300 million. The
company launched Hindi views channel Janmat, which was later changed into Hindi
news channel Live India. It also entered into the Marathi entertainment arena
with Mi Marathi.
Sri Adhikari Brothers sold 51 per cent stake of both the channels - Live India
(Broadcast Initiatives Ltd) and Mi Marathi (Sri Adhikari Brothers Media Ltd) -
to property developer HDIL group. | 
