Deccan Chronicle Holdings has informed the Bombay Stock Exchange that in its forthcoming board meeting on July 27, 2005, it will discuss the offer of up to 9 per cent of its share capital for raising funds through foreign currency convertible bonds (FCCBs), private placement, American depository receipts (ADRs) or global depository receipts (GRDs) subject to a 5-year conversion period. | |
| P K Iyer, executive director, Deccan Chronicle Holdings had stated then that the government's policy on foreign investment has given the management a larger universe to explore new opportunities. |
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| On June 17, the ministry of information and broadcasting had issued a notification where foreign funds, overseas corporate bodies, non-resident Indians and persons of Indian origin would be allowed to invest in Indian newspaper companies. |
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| Besides, the printing of foreign editions of international publications in India has also been allowed and media houses will be permitted foreign institutional investors. |
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