BAG Films raises Rs 804 mn

Anurradha Prasad promoted production house BAG Films and Media has raised $17.43 million through a GDR issue to fund its expansion programme.

According to the reports, the company claims that GDR plan will be used to fund their expansion plans in the broadcasting sector.

Reorts say that the production house has approved and allotted 3.7 million GDRs, representing 37 million equity shares of Rs 2 each, at a price of $4.71 per GDR

BAG Films runs two TV news channels News24 and E24, TV production houseStudio 24 and seven radio channels under the brand name Dhamaal 24. The brand also has films and leasing divisions and it runs a media school in Noida.