Media firm Network 18 Media & Investments today said it will raise Rs 119.63 crore in one or more tranches by issuing shares on the preferential basis to SAIF III Mauritius Company, for funding its various businesses.

The company would issue 92.02 lakh shares at Rs 130 to SAIF III Mauritius Company, Network 18 Media & Investments said in a filing to the Bombay Stock Exchange (BSE).

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Shareholders of the company (Extra-ordinary General Meeting) would meet on July 2, in order to consider and approve the said proposal, the filing added.

Shares of Network 18 Media & Investments were trading at Rs 145.15, down 3.91 per cent on the BSE.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end lower ahead of May F&O expiry - Parsvnath posts Rs 23 cr loss in Q4 - Educomp net down 57% at Rs 61 cr in Jan-Mar qtr - DLF Q4 net plunges 39% to Rs 211 cr - Provogue Q4 net profit down 71% at Rs 1.81 cr

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