TV18, Network18 shares up as Sebi okays rights issue

Shares of TV18 Broadcast and Network 18 Media & Investments rose after news that the capital market regulator approved the rights issues of both the companies.

The two rights issues are expected to raise about Rs 5,000 crore, media reports said.

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Sebi cleared the rights issue documents of both companies on 17 August.

Network 18 Media & Investments shares were up 4 percent at Rs 31.80 while those of TV18 Broadcast were up 8.64 percent at Rs 22.

Disclosure: Firstpost.com is part of the Network 18 group.