Consumer durables major Videocon Industries today said its board has approved raising Rs 1,245 crore by issuing shares on rights and preferential basis.
The board has approved to raise an amount of up to Rs 1,200 crore by allotting shares on rights basis, Videocon said in a filing to the Bombay Stock Exchange.
The board has also approved to raise funds amounting to Rs 45 crore by issuing shares on preferential basis to an independent non-promoter investor, the filing added.
Both the above proposals are subjected to shareholders approval, it said.
Shares of Videocon Industries were trading at Rs 217.55 on BSE in morning trade, down 2.40 per cent from its previous close.
