Date:26/06/2005 URL: http://www.thehindubusinessline.com/2005/06/26/stories/2005062601430200.htm

Back TV18 move to raise funds

Our Bureau

Mumbai , June 25

THE board of TV18 today announced that it would consider a proposal to advance the date of outstanding warrants issued by way of a rights issue in November 2004 to fund its new news channels.

The company expects to raise around Rs 55 crore from this conversion (based on current market price). Each warrant will get converted into one ordinary share of TV18 at a discount of 25 per cent to the prevailing market price.