Sahara Mass Comm to raise Rs 38cr from BCCL

The board of directors of Sahara India Mass Communication, which met on February 11, 2006, approved a proposal to issue 11 lakh equity shares of Rs 10 each at Rs 344 per share to Bennett Coleman & Company (BCCL) on preferential basis.

According to a release issued by Sahara to the BSE today, an extraordinary general meeting of the company would be held on March 8, 2006 to seek shareholders' approval for the issue.