The Chandigarh-based Compact Disc India (CDI), an integrated media and entertainment company, has informed that its board of directors has approved the investment of USD 3 million in CDI Media.

The investment would be made to set up pre production animation studio at Los Angeles, USA.

CDI Media is a wholly owned subsidiary of the company incorporated in USA.

The share of the company closed on Friday at Rs 68, up 5%, compared to previous close of Rs 65 on BSE. The total volume of shares traded was 181,030.