The company, however, is waiting for CCI's approval before it can proceed with its fundraising plans, sources said.
Commenting on the state of markets, Bhanshali said that investors can brace for a big move on the upside followed by some more announcements on the regulatory front.
Great caution has been taken while computing tax rates so that they do not add to inflation, said Vallabh Bhanshali, Chairman, Enam Group.
In the special series, Weekender, Manisha Gupta caught up with Vallabh Bhanshali, Chairman at Enam Group, wherein he spoke about his investment experiences and also spoke about how the year went by.
Vallabh Bhansali of Enam Group has termed this move as most revolutionary and expects the equity market and economy to celebrate this with vigour and enthusiasm.
Enam's investments will be used in the organic build out of Arre's content, the overall product offering and facilitate scaling into a significant player in the digital content business, Enam said in a statement.
Batteries supplier Exide Industries touched a new 52-week low of Rs 121 on Thursday as it has agreed increase its stake in the insurance joint venture, ING Vysya to 100 percent.