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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3939)	3/26/1999 8:25:00 PM
From: Mohan Marette	Respond to of 12475

Zee to increase authorised share capital-Reports Fiancial Express. Saturday, March 27, 1999 MUMBAI: Zee Telefilms Ltd (ZTL) shareholders today approved an increase in the company's authorised share capital from Rs50crore to Rs75crore to safeguard itself from any fund shortfall required for the ambitious projects envisaged in the face of technological convergence. Keeping in mind the move from analog satellite broadcasting to digital, direct-to-operator and direct-to-home broadcasting and the launch of internet services and to raise debt at competitive rates, the company intends to leverage its net worth and borrow monies from banks and financial institutions, Zee chairman Subhash Chandra told the company's extraordinary general meeting here, reports PTI. He said Zee would soon launch regional channels in Marathi, Bengali, Gujarati, Punjabi and other Indian languages. ZTL has been sanctioned in principle, term loans and credit facilities by ICICI Ltd and other banking institutions to the extent of Rs110crore for the proposed new activities including digitalisation and introduction of eight regional language channels.