Media Matrix to set up Rs 200 cr film studio

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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.


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