HT Media surges on acquiring 14.18% stake of NMW

HT Media surges on acquiring 14.18% stake of NMW

by admin- Friday, April 12th, 2019 04:01:47 PM

HT Media is presently buying and selling at Rs. 40.Eighty, up through zero.75 factors or 1.87% from its previous remaining of Rs. 40.05 at the BSE.

The scrip opened at Rs. Forty one.90 and has touched a excessive and occasional of Rs. 41.90 and Rs. 40.Forty respectively. So some distance 5481 stocks had been traded on the counter.

The BSE organization ‘T’ stock of face value Rs. 2 has touched a 52 week excessive of Rs. Ninety two.30 on 27-Apr-2018 and a 52 week low of Rs. 36.20 on 10-Dec-2018.

Last one week excessive and low of the scrip stood at Rs. 43.00 and Rs. 38.20 respectively. The modern-day market cap of the business enterprise is Rs. 949.Sixty one crore.

The promoters protecting in the enterprise stood at 69.51%, whilst Institutions and Non-Institutions held 14.Sixty six% and 15.Eighty four% respectively.

HT Media has obtained ninety four,86,823 fairness shares representing 14.18% of the completely diluted vote casting equity proportion capital of Next Mediaworks (NMW) on April nine, 2019 pursuant to an open offer below the SEBI (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011 (SEBI (SAST) Regulations).

In phrases of the share purchase agreement dated December 20, 2018, executed via and among the Company and the promoters and contributors of the promoter institution of NMW, the Company will collect a similarly 2,46,28,563 equity shares aggregating to 36.Eighty two% of the absolutely diluted balloting fairness proportion capital of NMW inside the duration as prescribed in Regulation 22(3) of the SEBI (SAST) Regulations. Thereafter, the Company shall: keep three,forty one,15,386 fairness shares aggregating to 51.00% of the completely diluted vote casting fairness percentage capital of NMW; be most of the people shareholder in and exercising manipulate over NMW; and be labeled as a promoter of NMW.

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