Videocon Industries has received an approval to issue equity shares or any other convertible instruments for an amount not exceeding Rs 5,000 crore at an approbate time. The board of directors at their meeting held on May 15, 2015 has approved for the same.
The company will raise funds by way of Follow on Issue, Private Placement basis, Qualified Institutional Placement basis, American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) or any other mode or mechanism, subject to necessary approval and consent.
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.