Videocon Inds to raise over Rs 270 cr via pvt placement

In a filing to the BSE, the company said it will "issue 1,57,50,000 Global Depository Receipts amounting to USD 51.02 million representing 1,57,50,000 equity shares".

The securities will be issued to LLIC Sarl at a price of USD 3.2395 apiece, equivalent to Rs 174 per equity share, it added.

Videocon, however, did share details why it is raising this money.

"Application will be made for the GDRs to be listed on the Luxembourg Stock Exchange and for in-principle approval for the issuance of the underlying shares, to be listed on the National Stock Exchange of India Limited and BSE Ltd," the company said.