Sahara One to raise $50 mn

Sahara One Media & Entertainment Ltd said it will raise $50 million through issue of equity shares or Foreign Currency Convertible Bonds in international markets.

The Board of directors have approved the issue of equity shares, preference shares, convertible debentures, convertible notes, FCCBs, Secured Premium Notes or any securities convertible into equity shares with the option of the company or holder of the securities, the company informed the Bombay Stock Exchange.

The Board has decided to call an extraordinary general meeting on May 8 to get the consent of the shareholders for the same.

Sahara One runs four satellite channels including an entertainment channel 'Sahara One' and a dedicated news channel 'Sahara Samay'.

The shares were trading at Rs 377.50, up 2.03 per cent at the BSE.

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