Radaan is a content provider for the television market. About 80 per cent of the funds raised will be used for financing long term working capital needs and to reduce high cost borrowing. The balance would be used to go national and upgrade the studio facilities.
The company shares will be listed in the National Stock Exchange and the Madras Stock Exchange.
The Bombay Stock Exchange has made observations regarding the valuation of the software library, promoter contribution and appraisal. The listing committee of the exchange has decided not to permit the use of the name of the exchange in the prospectus.