Cineline India Ltd., which recently launched the MovieMax multiplex chain, today (June 8) announced and approved in its Board meeting the issuance of upto 27 lakh warrants, each convertible into or exchangeable for one equity share within a period of 18 months at a price of Rs. 130 each, aggregating Rs. 35.10 crore to members of the promoter group by way of preferential issue.
The meeting also approved the proposal for monetising its Eternity Mall property in Nagpur for consideration of up to Rs. 60 crore.