MUMBAI: GV Films Ltd has informed Bombay Stock Exchange (BSE) that the company has received a placement proposal of investments from Hythe Securities Ltd of Hythe House, London, for $12 million.
As per the announcement, the investment is to be placed against the proposed GDR of the company - the size between USD 20-25 million filed at Luxemburg Stock Exchange and also filed for "in principle approval" at Indian stock exchanges by the company.
A board meeting will be convened on 17 January, 2006, to discuss and finalise this subject of placement of investments and finalise the contract with M/s Hythe Securities Ltd, London.