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Network 18 Media to raise Rs 1,197 crore via public deposits

16 Apr 2013 Evaluate

In a bid to fulfill its short-term financial needs, Network 18 Media & Investments is planning to garner funds through public deposits. In this regards, the company has invited its shareholders, employees and the general public to deposit their savings with it. The company is expected to gather a maximum of Rs 1,197 crore through deposits of which, Rs 855 crore will be raised from public and the remaining Rs 342 crore from the shareholders.

Besides, the company had aggregate deposits of Rs 332 crore at the end of December 31, 2012. Last year, the media giant had raised about Rs 2,700 crore through rights issue of for repayment of debts among others.

Network 18 Media & Investments is one of India's leading full play media conglomerates with interests in television, print, internet, filmed entertainment, mobile content and allied businesses.

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