Hinduja Ventures has informed that board of directors of the Company at its meeting held on August 03, 2018 accorded its approval to subscribe 4,48,00,602 equity shares of Rs 10 each of IndusInd Media & Communication (IMCL), subsidiary of the Company, offered to the Company on rights basis in the proportion of 5 new equity share for every 11 equity shares held (5:11) at a price of Rs 100 per share (including premium of Rs 90 per share) and such number of equity shares of IMCL which may be renounced in favour of the Company by the existing members of IMCL and such number of Equity shares not taken up or specifically renounced by the Shareholders of IMCL and may be made available to the Company under the relevant provisions of the Issue.
The above information is a part of company’s filings submitted to BSE.
