Held on 29 August 2016
Gradiente Infotainment announced that the Board of Directors of the Company at its meeting held on 29 August 2016 approved the following -Raising funds by way of preferential allotment of equity shares to the Promoters and the Non-Promoters.
In addition to the above, the Board also considered the proposal of expansion of business into e-commerce and digital media etc., which requires funding of Rs 50 crore, of which Rs 10 crore will be raised by way of preferential allotment to Ceran International Energy, Germany and the balance will be raised through follow on public issue.
The Board in-principle approved the proposal to set up a Joint Venture/ Subsidiary with Ceran International Energy, Germany.
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