Videocon Industries has decided to raise $45.216 million through issue of securities to LLIC Sarl on a private placement basis. In this regard, the company will issue 15.7 million Global Depository Receipts (GDR) amounting to $45.216 million representing 15.7 million equity shares at a price of $2.88 per GDR, equivalent to around Rs 181.61 per equity share, to LLIC Sarl on a private placement basis.
Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.
