Global Broadcast to raise $200mn

The board of directors of Global Broadcast News (GBN), which met today, approved a proposal to raise up to $200 million by way of international offerings.

According to a release issued by the company to the BSE today, the meeting also approved a proposal to increase the borrowing limit up to Rs 1,500 crore.

GBN, which runs the news channel IBN 7 and the internet portal ibnlive.com, is also introducing an ESOP/ESPP scheme for its employees constituting 15,00,000 equity shares of the company, the release added.