IBN18 Broadcast To Raise $90 Million Through QIP, Private Placement

Entities Mentioned

• Blackberry
• Viacom
• Raghav Bahl
• Reliance Capital
• Sameer Manchanda
• Rajdeep Sardesai
• Broadcast Ltd
• Global Broadcast News

1. Raghav Bahl's IBN18 Broadcast Ltd is planning to raise $90 million (Rs 400 crore) through a public issue or a private placement or a qualified institutional placement. Earlier this year the firm had changed its name from Global Broadcast News to IBN18 Broadcast Ltd. The Board of IBN has also called for an Extra-Ordinary General meeting (EGM) on October 1, 2008 to seek shareholders approval on its decision to raise money, the company said in it communique' to the stock exchange. Private equity fund IL&FS Investment Managers holds about 8% stake in IBN18 Broadcast. They had ... (Read Full Article)

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