Mumbai: Media house IBN18 Broadcast today said it would raise up to Rs 510 crore through the issue of shares to its existing shareholders.
The board has approved the rights issue of equity shares aggregating to Rs 510 crore, IBN18 Broadcast said in a filing to the National Stock Exchange (NSE).
"The pricing, ratio, timings and other terms of the rights issue shall be decided by the issue committee of the board of directors, in consultation with the lead managers," it added.
Shares of IBN18 Broadcast were trading at Rs 106.90, down 4.89 per cent in afternoon trade on the NSE.
