Television Eighteen India to subscribe warrants of IBN18 Broadcast

News Flash

SMS BOS < space > stock query at 56388
LYONDELLBASELL UNDER CHAPTER 11 BANKRUPTCY PROTECTION SINCE JAN-2009
LYONDELLBASELL IS ONE OF THE WORLD'S LARGEST PETROCHEMICALS COMPANY
RIL MAKES NON-BINDING CASH OFFER TO BUY CONTROL IN LYONDELLBASELL
OFFER APART FROM EQUITY FINANCING PROPOSED BY RIL FOR LYONDELLBASELL
OFFER UPON EMERGENCE OF LB FROM CHAPTER-11
OFFER SUBJECT TO DUE DILIGENCE & SUFFICIENT CREDITOR SUPPORT
LYONDELLBASELL: RIL OFFER POTENTIAL ALTERNATIVE TO REORGANIZATION PLAN
LYONDELLBASELL: TO TRY TO MAXIMIZE VALUE FOR ALL CREDITORS
LYONDELLBASELL PRIVATELY OWNED BY PROCHEMIE GMBH
RIL: NO ASSURANCE THAT OPPORTUNITIES WILL RESULT IN A TRANSACTION
RIL: REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH IN CORE BIZ
OFFER IS PRELIMINARY AND SUBJECT TO CUSTOMARY CONDITIONS
OFFER PURSUANT TO ITS PLAN OF REORGANISATION
CASH OFFER FOR A CONTROLLING STAKE UPON EMERGENCE FROM CHAPTER 11
SUBMITTED TO LYONDELLBASELL NON BIDDING OFFER TO ACQUIRE FOR CASH
RIL REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH
Stock moves on WAP: Logon to mobile.ndtv.com on GPRS browser
SMS INDEX to 56388 for live market updates
Finance buzz: Logon to mobile.ndtv.com on GPRS browsers
Stock updates: SMS STO followed by scrip name to 56388
For Kingfisher Airlines flight updates sms KING to 56388
Email us at buyorsell@ndtv.com
Call us at 011-26201171
DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q3
GOLDMAN SACHS DOWN 1.6%, GE DOWN 1.1%, CISCO DOWN 1%, MERCK UP 3.2%
DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q2
DOW JONES FALLS FOR 3RD STRAIGHT DAY TO END LOWER BY 0.1% ON FRIDAY
NASDAQ DOWN 0.5%, S&P 500 INDEX LOWER BY 0.3% AT CLOSE ON FRIDAY
U.S MARKETS ENDED LOWER ON FRIDAY AS TECH STOCKS TOOK THE BIGGEST HIT

Updated: 28/11/2008 | 12:00 AM IST

Manufacturing

Capital Market

Friday, November 28, 2008 (New Delhi)

Blog

Comments:

Read (0)

Post

Rate the story

Television Eighteen India has decided to subscribe to 15,000,000 warrants of ibn18 Broadcast to be allotted on preferential basis, which would be convertible into equity shares of ibn18 at Rs 102 per share. This allotment shall be made at the same price at which ibn18 has allotted shares to QIBs in its recently concluded QIP.

TV18 will make this subscription via RVT Investments, a 100% subsidiary of TV18, which currently holds 23,454,495 equity shares of ibn18. Once RVT Investments converts the current issue of 15,000,000 warrants of ibn18, RVT Investment's holding in ibn18 will be 20.77% on a fully diluted basis. This will enable TV18 to consolidate ibn18's financial results with itself.

TV18 believes this strategic initiative is extremely beneficial for its shareholders, since ibn18's bouquet of TV channels is entirely synergistic with TV18's business news channels and Web18's family of internet portals. This equity stake will also allow TV18 to get strategic ownership in what is arguably the strongest bouquet of TV channels in the country, including TV18's two business news channels and ibn18's seven general interest channels.

The company made this announcement during the trading hours today, 28 November 2008.