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Radaan Media plans to raise Rs 50 cr

Our Bureau

Chennai , Sept. 8

RADAAN Mediaworks India Ltd plans to raise Rs 50 crore from the market to fund its acquisition plans.

Company sources said it has one or two smaller media houses on its radar for acquisition. It also plans to create new content, which is suitable for broadband. It has formed a committee of four independent directors to study various means of raising funds, which could be debt or equity.

The company is also exploring the possibility of an ISO certification, as it would carry mileage in the overseas markets, sources said.

The AGM of the company will be held on September 27.

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