MUMBAI: Shree Ashtavinayak Cine Vision has decided to raise funds for expansion by the issue of $50 million foreign currency convertible bonds (FCCBs).

The money will be utilised in the expansion of the company’s film production and distribution business.

Shree Ashtavinayak Cine Vision board also recommended the issue of warrants on preferential basis of the extent of $ 20 million.

The company will also be making efforts to raise more fund through Qualified Institutional Placement (QIP).