The company would also raise Rs 7.5 crore through issue of equity shares to Bennett, Coleman & Company on a preferential allotment basis, it said.
The board also gave its consent for acquisition of properties at Ahmedabad, Cochin, Kolkata, New Delhi and Pune for setting up of clubs, it said.
These acquisitions would be done by outright purchase or acquisition of 100% equity shares of the firms, it said.
A final dividend of 20% was also recommended by the board for the year ended March 31.
The entertainment and leisure conglomerate said it would also issue 6,00,000 warrants to promoters and outsiders.
