Akdhikari Bros to issue warrants to promoters

Media company Si Adhikari Brothers Television Network will issue 10.1 million warrants carrying an option to subscribe equivalent number of equity shares to promoters on a preferential basis to promoters and private bodies corporate to fund its expansion plans, the company said in a statement to the Bombay stock Exchange.

The company will also use the proceeds for part financing its working capital and debt repayment, it said.

The company's shares were trading at Rs 27.80, nearly 2.28 per cent lower than Friday's close, at 12.43 pm.