Videocon to raise Rs 200 cr via warrants to BCCL

Consumer electronics company Videocon Industries today said it will raise over Rs 200 crore through issue of warrants on preferential basis to media conglomerate Bennett, Coleman & Company Ltd (BCCL).

In a filing to the Bombay Stock Exchange Videocon Industries said the board has approved the issuance of over 1,17,65,000 crore warrants, which would be converted into an equal number of equity shares, at a price of Rs 170 a piece, to Bennett, Coleman & Company.

Upon conversion, Bennett, Coleman & Co's holding in Videocon Industries would go up to 6.13 per cent. As of the December quarter the media firm held 1.01 per cent in Videocon, according to BSE shareholding data.