Videocon Inds to raise Rs 5,000cr via GDRs/FCCBs

Videocon Industries board, subject to members approval, has given its nod to raise an amount not exceeding Rs 5,000 crore through the issue of Global Depository Receipts (GDRs) and / or Foreign Currency Convertible Bonds (FCCBs) and / or equity shares through prospectus.

According to a release issued by Videocon Industries to the BSE, the board has also approved for private placement on preferential basis and / or on rights basis, and / or any combination of any or all these methods, for raising the amount.

The stock, after opening at Rs 414, has gained 3.69% (Rs 15) to Rs 420 at 10:20 hrs.