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.
Besides, the company has also received shareholders' approval for raising funds through the issue of equity shares, debentures, warrants and other securities.
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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