Media and entertainment firm UTV Software Communications today said the company's shareholders have approved the proposed merger of UMP Plc and UTV Motion Pictures (Mauritius) with itself.
As per the arrangement, the assets and businesses of UMP Plc and UTV Motion Pictures (Mauritius) would be transferred to UTV Software Communications.
In a filing to the Bombay Stock Exchange, UTV Software Communications said it has received shareholders' nod for the scheme of arrangement.
UMP Plc, formerly UTV Motion Pictures Plc, is a holding company for UTV (Mauritius).
The company in a separate filing said it would seek shareholders' approval to raise up to Rs 750 crore through various channels including issue of Global Depository Receipts (GDR) and American Depository Receipts (ADR).
Shares of UTV Software Communications today closed at Rs 455.15 on the BSE, down 0.48 per cent from its previous close.
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