Television Eighteen India, the company that operates leading business news channel CNBC TV18, on Wednesday said that it would raise Rs 510 crore from its existing share holders through a rights issue to re-pay its debt.
Promoters with its group entities have committed to subscribe to the unsubscribed potion of the issue in case it does not get a warm response.
According to company's last balance sheet available till 31 March 2008, the company had total of Rs 546 crore of debt on its books.
The company would finalise the price per equity share for the issue and other details before the date of the opening of the issue,it said in the statement to Bombay Stock Exchange (BSE).
The stock of the company was up by 3.22 per cent to Rs102.70 a share on BSE at 11.14 am, post the announcement by the company.