Reliance Anil Dhirubhai Ambani Group firm Adlabs Ltd today said its board has approved a rights issue of equity shares to raise upto Rs600 crore.
Funds will be utilized to expand the number of screens worldwide (to over 570 from 428 now), establish a media BPO, set up studios and sound stages in Mumbai’s Film City and to enhance production infrastructure.
The promoter group will subscribe to the unsubscribed portion of the issue. Post issue, the company’s net worth will be enhanced to Rs1,000 crore, the company said.
For the year ended 31 March, the company reported consolidated net loss of Rs54.5 crore against revenues of Rs662 crore.

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