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Videocon gets shareholders approval to raise Rs 5,000 crore

Videocon Industries has got shareholder’s approval to raise Rs 5,000 crore through issuance of shares to institutional buyers, global depository receipts (GDR) and foreign currency convertible bonds (FCCBs).

Videocon, in a BSE filifng said, The board will raise the funds “at any appropriate time” by issuing “equity shares or any other convertible instruments for an amount not exceeding Rs 5,000 crore by way of follow-on issue, private placement basis…”

Videocon will be exploring the option through qualified institutional placement, American depository receipts, GDRs and FCCBs.

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