Indiantelevision.com: Leading media company Television Eighteen India Ltd (TV18) plans to raise Rs 100 crore ($22 million) by placing equity shares or convertible bonds with foreign institutional investors (FIIs). HSBC has reportedly got the mandate to manage the issue. The company is yet to finalise whether it would be an equity or a convertible bond instrument.
TV18’s internet business Web18 had recently acquired three internet properties Cricketnext.com, Compareindia.com and Urban Eye. It also has plans to set up a Rs 50-crore Media Venture Capital Trust (MVCT).
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