Sahara One Media & Entertainment to raise money from overseas

Sahara One Media & Entertainment to raise money from overseas

India based media group Sahara One Media & Entertainment has said in a statement that they are planning to raise 50 million dollars through the issue of equity shares or Foreign Currency Convertible Bonds (FCCBs) in international markets.

The board of directors of this company has already approved the issue of equity shares, preference shares, convertible debentures, convertible notes, FCCBs, Secured Premium Notes (SPNs), or any securities convertible into equity shares with the option of the company or holder of the securities.

Sahara One has already informed the Bombay Stock Exchange of this decision to get further investments from abroad. The company board has also called in an Extraordinary General Meeting on May 8 to get the consent of the shareholders for the same.

The company operates four satellite channels, which includes an entertainment channel ‘Sahara One’ along with a dedicated news channel ‘Sahara Samay’.