Breaking News

You are here » Indian-Commodity  :  Investment  :  HT Media acquires 14.18% stake of NMW


HT Media acquires 14.18% stake of NMW

HT Media has acquired 94,86,823 equity shares representing 14.18% of the fully diluted voting equity share capital of Next Mediaworks (NMW) on April 9, 2019 pursuant to an open offer under the SEBI (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011 (SEBI (SAST) Regulations).

In terms of the share purchase agreement dated December 20, 2018, executed by and between the Company and the promoters and members of the promoter group of NMW, the Company will acquire a further 2,46,28,563 equity shares aggregating to 36.82% of the fully diluted voting equity share capital of NMW within the period as prescribed in Regulation 22(3) of the SEBI (SAST) Regulations. Thereafter, the Company shall:  hold 3,41,15,386 equity shares aggregating to 51.00% of the fully diluted voting equity share capital of NMW; be the majority shareholder in and exercise control over NMW; and be classified as a promoter of NMW.

HT Media is engaged in printing and publishing of newspapers. The company's segments include Printing & Publishing; Radio Broadcast & Entertainment, and Digital.

Related News

View all news

Hulst B.V. acquires over 4 lakh shares of NIIT Technologies

Hulst B.V. has acquired 463,219 equity shares (with face value of Rs 10 each) of NIIT Technologies, on May 10, 2019.NIIT Technologies is a leading global IT solutions organization servicing customers across......

Cox & Kings enters into strategic tie-up with RCI

Cox & Kings (India) has entered into a strategic tie-up with RCI, the global leader in vacation exchange and part of the Wyndham Destinations, to facilitate ancillary travel services for their......

UPL invests Rs 9.24 crore in Allfresh Supply Management

UPL has invested Rs 9.24 crore in Allfresh Supply Management constituting 26.75% (on fully diluted basis) in the paid-up share capital of Allfresh.Allfresh is engaged in procuring and supplying fresh produce......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......