The shareholders of Anil Ambani group firm Adlabs Films have approved proposals entailing  a name change of the company to Reliance MediaWorks and raising of additional funds.

Shareholders of the company at its meeting held yesterday have approved a special resolution for change in name of the company from Adlabs Films to Reliance MediaWorks, the company said in a filing to the Bombay Stock Exchange.

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The shareholders have also approved a rise in the company's authorised share capital to Rs 50 crore from Rs 46.02 crore.

The shares of Adlabs closed at Rs 352.90, up 1.29 per cent on the BSE.

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