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GTPL Hathway to Acquire Remaining 49% Stake in GTPL Vision Services

Updated on: Jan 1, 2025, 4:51 PM IST
GTPL Hathway to acquire a 49% stake in GTPL Vision for ₹11.31 crore, making it a wholly-owned subsidiary; 1 lakh shares purchased at ₹1,131 each.
GTPL Hathway to Acquire Remaining 49% Stake in GTPL Vision Services
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

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.

Transaction Details

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.

About GTPL Vision

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:

  • FY 2023-24: ₹165.19 million turnover
  • FY 2022-23: ₹165.00 million turnover
  • FY 2021-22: ₹185.03 million turnover

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.

Regulatory and Operational Updates

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.

Stock Performance and Share Holding Patterns 

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.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 1, 2025, 11:50 AM IST

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