WWIL plans to raise up to $250 million

MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group‘s demerged cable entity, plans to raise up to $250 million (approximately Rs 11250 million) for funding its expansion programme including digitalisation and acquisition of operators.

The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants. The board has decided to convene a general meeting of the shareholders.

“This is is just an enabling resolution and we plan to decide on the amount we are going to raise and how within 15 days,” says WWIL managing director Jagjit Kohli.