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Videocon Industries today said its board has proposed to seek shareholders’ approval to raise up to Rs 5,000 crore through issue of shares in domestic as well as international markets.
The company’s board of directors has proposed to seek shareholders approval authorising them to issue equity shares or any other convertible instruments for an amount not exceeding Rs 5,000 crore, Videocon Industries said in a filing to the BSE.
The board will be seeking shareholders’ nod to raise capital via instruments including qualified institutional placement, American Depository Receipts (ADRs) and Foreign Currency Convertible Bonds (FCCBs), it added.
The company’s board, during its meeting, also recommended a dividend of Rs 2 per equity share to public shareholders.
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