3 firms seek SEBI nod for rights issue
As many as three firms, including State Bank of Travancore and Zee Media Corp, approached market regulator Securities and Exchange Board of India (SEBI) in January to raise nearly Rs.700 crore through rights issue.
Apart from these two firms, Everlon Synthetics has also filed draft papers with SEBI to mop up funds by issuing equity shares to existing shareholders.
Most of the companies plan to garner funds for repayment of loans and to support working capital requirements.