GTPL Hathway announced the acquisition of the remaining 49% equity stake in its subsidiary, GTPL Vision Services Private Limited (GTPL Vision). The transaction was formalised through a share transfer agreement signed yesterday, December 31, 2024.
The acquisition involves the purchase of 1,00,000 equity shares, each valued at ₹10, for a total cash consideration of ₹11,31,00,000. The purchase price per share has been set at ₹1,131. This strategic move will result in GTPL Vision becoming a wholly-owned subsidiary of the Company.
GTPL Vision, established on March 17, 2008, operates in the distribution of television channels. Over the past three fiscal years, the company has maintained stable performance:
Out of the six transferors of the equity stake, five are related parties of GTPL Vision. However, the Company has confirmed that the transaction has been executed on an arm’s length basis. Furthermore, none of the Company’s promoters, promoter group, or group companies have any financial interest in this transaction.
The transaction requires no governmental or regulatory approvals, ensuring a smooth and expedited process. The acquisition is expected to be fully completed within 90 days from the date of the agreement.
On January 1, 2025, GTPL Hathway share price (NSE: GTPL) rose by 0.80%, reaching ₹186.50 at 9:31 AM (IST). According to BSE data, the stock recorded a trading volume of 224 shares, resulting in a turnover of ₹0.33 lakh.
As of September 30, 2024, promoters held a 75.00% stake in GTPL Hathway, while Foreign Institutional Investors (FIIs) owned 8.64%. Domestic Institutional Investors (DIIs) held no stake in the company.
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Published on: Jan 1, 2025, 11:50 AM IST
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