Reliance Broadcast Network Ltd is reportedly said to be in talks with a few private equity and strategic investors to raise 3-4 bn rupees via a fresh share issue as part of its plans to expand its radio and television footprint across the country.
In an interview with Reuters on Monday, Chief Executive Tarun Katial reportedly said that the company has mandated Yes Bank for the transaction and hopes to conclude the deal by the next quarter.
According to reports, the firm is also in talks with strategic investors for BIG Live - its live entertainment business - and hopes to make an announcement later in the year.