Shree Ashtavinayak Cine Vision to raise $150 million

MUMBAI: Film production and distribution company Shree Ashtavinayak Cine Vision is planning to raise funds up to $150 million through various routes from both the domestic and international markets.

The company will raise funds via Global Depository Receipts and / or American Depository Receipts and / or Foreign Currency Convertible Bonds (FCCBs) or convertible securities linked to equity shares, including qualified institutional placement of share.

The company’s shareholders will meet on 24 October for the Extraordinary General Meeting.

Shree Ashtavinayak Cine Vision is readying to release its underwater action adventure Blue starring Sanjay Dutt, Akshay Kumar, Zayed Khan and Lara Dutta. Blue, which is directed by Anthony D’Souza, will hit screens this Diwali on 16 October.

At the time of filing this report, Shree Ashtavinayak Cine Vision managing director Dhilin Mehta was not available for comment.

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