GBN considers raising Rs 6 bn via QIP

MUMBAI: Global Broadcast News (GBN), that operates the English and Hindi news channels CNN IBN and IBN7 respectively, is planning to raise funds up to Rs 6 billion (Rs 600 crores) through Qualified Institutional Placement (QIP).

At the company’s recent board meeting, the board of directors also approved the decision to change the name of the company.

GBN will also grant up to 2,00,000 ESOPs to non executive directors including independent directors.