After raising Rs 221.11 crore (Rs 2.21 billion) last year, multi-system operator (MSO) Siti Cable Network has again sought fresh approval from its shareholders to raise up to $100 million (Rs 642 crore). Siti Cable plans to raise the amount by way of issuance of equity shares via public issue, private placement, or qualified institutional placement (QIP). Incidentally, Siti Cable shareholders had approved, via a special resolution through postal ballot, raising up to $100 million in October 2014. However, the company raised only Rs 221.11 crore until 9 March 2015. Since the shareholders’ approval is valid for 12 months, the company has sought fresh approval.
Read more at: http://www.televisionpost.com/cable/siti-cable-to-raise-up-to-100-mn-seeks-shareholders-approval/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/cable/siti-cable-to-raise-up-to-100-mn-seeks-shareholders-approval/ | TelevisionPost.com
