Hindustan Media Ventures Ltd (HMVL) today said it will seek shareholders' approval to raise up to Rs 250 crore through issuance of non convertible debentures (NCDs) on private placement basis.
"In order to augment long term resources for financing ongoing expenditure and for general corporate purposes, the Board of Directors may, at an appropriate time, offer or invite subscription for secured/unsecured redeemable debentures/bonds up to Rs 250 crore," HMVL said in a BSE filing.
The company has listed its plans to raise funds in the notice for annual general meeting for approval of shareholders.
The funds shall be raised within the overall borrowing limits of the company, it said, adding that money would be raised during the period of one year from the date of its Annual General Meeting (AGM).
The company's AGM will be held on August 28.
HMVL is in the business of printing and publication of newspapers and periodicals, including Hindi daily Hindustan.
