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Indian-Commodity  :  Equity & Shares  :  Network 18 Media gains on hiking stake in Greycells18 to 89.69%

Network 18 Media gains on hiking stake in Greycells18 to 89.69% (18-May-2018)

Network 18 Media & Investment is currently trading at Rs. 50.00, up by 0.30 points or 0.60% from its previous closing of Rs. 49.70 on the BSE.

The scrip opened at Rs. 50.25 and has touched a high and low of Rs. 50.40 and Rs. 49.80 respectively. So far 12435 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 64.00 on 15-Jan-2018 and a 52 week low of Rs. 43.65 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 51.45 and Rs. 49.00 respectively. The current market cap of the company is Rs. 5234.74 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 5.93% and 19.07% respectively.

Network 18 Media & Investment has been allotted 1,74,57,002 equity shares of Rs 10 each of Greycells18 Media (Greycells18) for a cash consideration of Rs 17,45,70,020. Greycells18 is a subsidiary of the company and hence is a related party.

Prior to this allotment, the company through its subsidiaries was holding 74.22% of the equity capital of Greycells18 whereas post allotment the holding of company and its subsidiaries in Greycells18 has increased to 89.69%.

Greycells18 was incorporated in 2006 and is engaged in Media business. Greycel118 is primarily engaged in providing education through TV channel (i.e. Topper) and Digital Media.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.


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