Videocon plans fund raising

At the same time the company said it plans to raise up to Rs 1,000 crore via issue of equity shares or other convertible instruments to meet its short term requirements.

Videocon Industries Chairman Venugopal Dhoot said, the long term fund raising could also be via sell, lease, mortgage, or otherwise disposing off a group company, wholly or in part.
The amount could be raised through follow on issue, private placement, Qualified Institutional Placement, American Depository Receipts, Global Depository Receipts, Foreign Currency Convertible Bonds or any other mode, subject to necessary approval and consent, it said. Shareholder approval has also been sought to authorise the board to make investments, extend guarantee and provide security, the company said.