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Balaji Telefilms receives board nod to raise Rs 250 crore

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MUMBAI: With a target set to make digital B2C (business to consumer) under the ALT Digital umbrella as its core business in five years’ time, the Ekta Kapoor helmed Balaji Telefilms Ltd is arming itself with a war chest of funds to enter the market with guns blazing.

The company, which was looking at raising Rs 250 crore to ramp up its digital business, has nowreceived board approval for the same. 



The funds will be raised by way of QIP, GDR, ADR, FCCB, other securities linked to equity, preference shares or any instrument or securities representing convertible securities. 



This is subject to approval of the company's shareholders and other necessary approvals. 



Additionally, the board has also approved to increase the authorised share capital of the company from Rs 20 crore to Rs 26 crore, subject to approval of shareholders.

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