PNC, Mid-Day to raise more funds

The board of directors of Pritish Nandy Communications, which met today, approved a proposal for further issue of capital, and accordingly decided to increase the authorised capital of the company to Rs 15 crore.

According to a release issued by the company to the BSE today, an EGM will be held on February 28, 2006 for obtaining shareholders approval for the proposal.

"The board also decided to acquire shares of PNC Wellness to make it a 100% subsidiary of the company, and to transfer the wellness segment of the company - Moksh - to PNC Wellness," the release added.

The board of directors of Mid-day Multimedia, which met today, allotted 21,90,000 equity shares on preferential basis to two funds operated by T Rowe Price International Inc.

According to a release issued by the company to the BSE today, T Rowe Price International Discovery Fund has been alloted 7.30 lakh shares and T Rowe Price New Asia Fund has been allotted 14.60 lakh shares.