Filmcity Media Ltd has the informed its board of directors at its meeting held on May 23, 2008 has constituted a committee consisting of four directors for the issue of global depository receipts (GDRs) / foreign currency convertible bonds (FCCBs) up to $10 million.

Mumbai-based Filmcity Media Limited engages in producing and telecasting television programs in India. It produces countdown programs, daily soaps, and other entertainment programs. The company also produces health related programs.

The scrip of the company slipped 3 per cent to Rs 1.94 at the close of Friday's trading with over 1,35,000 shares changing hands on the BSE.