MUMBAI: Adlabs Films Ltd board has approved the raising of long term resources by issue of Foreign Currency Convertible Bonds (FCCBs) in the international markets.

The company has informed the Bombay Stock Exchange (BSE) that upto USD 100 million or equivalent thereof, subject to all necessary permissions, sanctions and approvals will be raised as FCCBs.

As already reported by indiantelevision.com, Adlabs is planning a major foray into FM radio and home video sectors. The company is planning to invest Rs 5 billion over the next three years for expansion of its operations.