Jhunjhunwala invests ₹25 cr in Next Media

Shares of Next Mediaworks will remain in focus, following the company raising ₹25 crore from Rakesh Jhunjhunwala. The company said it has successfully completed raising funds for migration of existing licenses from Phase II to Phase Ill through a combination of debt from bank and private equity (PE) funding. It has raised PE funds worth ₹25 crore from Jhunjhunwala by alloting 2.5 crore cumulative convertible preference shares (0.001 per cent) at par value of ₹10.