Sri Adhikari Brothers to launch regional channels

The company is also looking at raising up Rs 1 billion. According to the reports, the company has apporved the offering and issue of up to 2.92 million warrants, carrying an option /entitlement to subscribe equivalent number of equity shares of Rs 10 each for preferential issues, to the promoter group.

This will help the promoters to finance the initial funding requirement of wholly owned subsidiaries.

Initially launched channels by Sri Adhikari Brothers - Live India and Mi Marathi's 51 per cent stakes have been sold to property developer HDIL group.