Entertainment Network India Ltd (ENIL), which operates FM radio channel Radio Mirchi, today said it has raised Rs 121.8 crore through issuance of Commercial Papers to finance its business needs.
"The company has on January 24, 2017 issued unsecured Commercial Papers (CPs). The amount raised through issuance of Commercial Papers is Rs 121.8 crore," Entertainment Network (India) Ltd said in a BSE filing.
It further said: "The CPs have a tenor of 364 days and will mature on January 23, 2018. The maturity value of CPs is Rs 130 crore. The effective yield of the CPs is 6.75 per cent per annum. Proceeds from the CPs will be used to finance the company's business needs".
Shares of ENIL closed 1.94 per cent higher at Rs 776.05 on BSE.
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