IBN to infuse Rs 1.5 bn in Viacom

Raghav Bahl-promoted IBN18 Broadcast has infused Rs 1.5 billion towards investment in Viacom18 as it plans to raise Rs 5.1 billion through a rights issue.

IBN had already generated $15million in 2009 out of $40 million it has to invest in the joint venture company. Out of the remaining $25 million, IBN has to put in $15 million in Fy'10 and $10 million in 2011.

IBN also proposes to utilise Rs 2.15 billion to repay loans. This will include a loan of Rs 1 billion availed from group company Network18. The company aims to retire its high-cost debt.

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