CorporateUTV Software to raise $150 million
Media and entertainment firm UTV Software Communications today said it would raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.
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The board had approved raising funds to the tune of $150 million from domestic and international fund raising options to meet the corporate requirements, UTV Software Communications said in a filing to the BSE.
The company would raise the funds by way of issue of equity shares, debentures or foreign currency convertible bonds, the filing added. The funds would be used to meet its growth plans in movies, broadcasting, gaming verticles and to retire debt.
It may raise the amount by issuing GDRs, American Depository Receipts or by private placement of shares with qualified institutional buyers, it said.