Ram Kashyap Investment Ltd today said it will raise about Rs 35 crore through a rights issue of 3.5 crore equity shares of Rs 10 each.
The company's board of directors have approved the letter of offer for the rights issue to the existing equity shareholders on rights basis in the ratio of four equity shares for every one equity share held, a company statement said here.
The company said that it has made an ambitious foray into media and entertainment business, with main focus on content distribution to the overseas markets.
The company already possesses satellite rights for 475 popular movies. It has recently acquired a huge inventory of 800 more well known films.
The company aims to become one of the top three overseas distributors of Indian regional visual content over analogue and digital platforms.
"Internationally, there is a huge demand for regional language entertainment, particularly Tamil, Telugu, Malayalam, Punjabi and Gujarati, and these avenues remain underserved. It is this market that RKIL is well-positioned to tap the potential," RKIL's Head, Overseas Content Rights and Finance, Murali Raman said.