Digicontent Limited (DCL) was incorporated on 14 August, 2017 under the provisions of Companies Act, 2013. The Company operates in the realm of Entertainment & Digital Innovation business. It provides
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content sourcing services and is engaged in the dissemination of news, knowledge, information, entertainment and content of general interest through various digital and electronic media. The Company undertakes management of advertising time and space on news websites such as, hindustantimes.com, livemint.com and livehindustan.com It also operates movie entertainment and review website desimartini.com, runs Fever Audio Tools, maintains a repository of copyright images and carries out brand promotion activities.
The Company produces, sources or has rights to high quality and large volume of multimedia literary content through its business. It specializes in development of literary content in the digital media sphere and provides content sourcing services in the form of news formats.
Pursuant to Scheme of Arrangement between the Company and HT Media Limited (HTML) and their respective creditors and shareholders, the 'Entertainment & Digital Innovation Business' of HTML along with its related assets and liabilities, and the related strategic investment in HT Digital Streams Limited (HTDS) has been transferred to Company upon the sanction of the Scheme by Hon'ble National Company Law Tribunal (NCLT), New Delhi Bench vide Order dated 7 March, 2019. The certified copy of the order sanctioning the Scheme has been filed with the Registrar of Companies, NCT of Delhi and Haryana on April 05, 2019. Accordingly, the Scheme has been given effect from March 31, 2018 (closing business hours) i.e. Appointed Date. Pursuant to the Scheme, HTML has transferred its entire stake in HTDSL (i.e. 57.17%) to, Digicontent Limited (DCL). Consequently, HTDSL has become wholly-owned subsidiary of the Company.
The Company issued and allotted its 58,187,078 Equity Shares of Face Value of Rs. 2/- each on April 12, 2019 to the eligible shareholders of HTML. The aforesaid Equity Shares were admitted for trading and listed on the stock exchanges i.e. National Stock Exchange of India Limited and BSE Limited on June 18, 2019.
Consequent upon allotment of shares to the eligible shareholders of HTML pursuant to HTML-DCL Scheme, The Hindustan Times Ltd., Go4i.com (Mauritius) Ltd., Mrs. Shobhana Bhartia, Mr. Priyavrat Bhartia and Mr. Shamit Bhartia have become Promoters of the Company in FY 2020.
Consequent upon effectiveness of HTML-DCL Scheme, HT Digital Streams Limited (HTDSL) became a material wholly owned subsidiary of the Company in FY 2020.
In September 2020, Mint launched its new brand positioning - Think Ahead. Think Growth.'. A digital-first marketing campaign - 'Growth Is On' - was launched with the objective of recognizing how individuals continued to grow through the pandemic through evolution and adaptation. New content buckets were introduced on the Mint social media handles. The campaign concluded with the launch of personal growth labs program. Livemint, having gone behind the paywall last year, enjoys a strong user base for its subscription offering, which is in collaboration with Wall Street Journal.
In December 2020, a new version of the Fabplay in-store application was launched and the new interface was positively received. In FY 2020-21, the product added over 1500 new stores.
The Company, through HT Tech, ventured into the niche tech digital journalism platform during the year 2021 . It aims to provide its users a differentiated experience and has been able to build a niche following. HT Tech's YouTube channel focuses on creating and hosting cutting-edge product insights, comparisons, and unboxing updates, which are widely shared on social media.
HT Bangla was launched in November 2019. HT Bangla witnessed a significant uptick during the year, with a rapidly growing millennial audience. It has established credentials in the highly competitive Bengali news market. The platform has established itself as a major player in the Bengali market within a year of its inception. With 71% repeat users, HT Bangla has developed a loyal follower base with maximum followers within the 15-34 years age group.
Within a year of launch of subscription business stream, the Company saw healthy growth in subscribers on the heels of strong brand recall and differentiated content. The Company also inked partnership with several banks, payment wallets, etc. to strengthen subscription segment.
The Board of Directors at its meeting held on February 11, 2021 approved a Composite Scheme of Amalgamation under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and the Rules framed thereunder, between the Company (DCL), Next Mediaworks Limited (NMW) and HT Mobile Solutions Limited (HTMS) (Transferor Companies) and (HTML/Transferee Company) and their respective shareholders and creditors, which is subject to requisite approvals. The Scheme envisages amalgamation of Transferor Companies with the Transferee Company. Accordingly, upon the Scheme becoming effective, the Company shall stand dissolved without winding up, and the equity shareholders of the Company will be entitled to shares of the Transferee Company as per the fair equity share exchange ratio enshrined in the Scheme. The Scheme has been filed with both, NSE and BSE for their no-objection, and the same is awaited.
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