Media Matrix to set up Rs 200 cr film studio

New Delhi, Oct 14 (UNI) Media Matrix Worldwide Ltd has said its board has decided to raise funds, to finance the acquisition of land and set up a Film Studio worth Rs 200 crore through the preferential issue of equity shares / CCPS / Warrants.

The company plans to buy 1,000 acres of land in Mumbai MMRDA, a statement said.

The statement added that the prefrential issue will be converted into or exchanged with equity shares at a later date to the promoters and non-promoters, in compliance with the SEBI guidelines.

The company will also increase its authorised share capital from Rs 8,50,00,000 to Rs 25,00,00,000 divided into 25 crore equity shares of Re one each.

UNI