Diversified business house Videocon Industries is planning to raise $51.02 million through issue of securities on a private placement basis from overseas market. In this regard, the company will issue 1,57,50,000 Global Depository Receipts (GDR) amounting to $51.02 million representing 1,57,50,000 equity shares.
The securities will be issued to LLIC Sarl at a price of $3.2395 apiece, equivalent to Rs 174 per equity share.
Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing & distribution of consumer electronics products and oil & gas extraction.
