GTPL Hathway Limited to Acquire Remaining Stake in GTPL Vision Services
GTPL Hathway Limited (GTPL) is set to acquire the remaining 49% stake in GTPL Vision Services Private Limited (GTPL Vision) for a cash consideration of ₹11.31 crore. This acquisition will make GTPL Vision a wholly-owned subsidiary of GTPL.
Key Details of the Acquisition:
- Agreement Date: December 31, 2024
- Stake Acquired: 49% (1,00,000 equity shares at ₹10 each)
- Total Consideration: ₹1131 per share, amounting to ₹11.31 crore
- Objective: Consolidate business operations
- GTPL Vision’s Core Business: Television channel distribution
- GTPL Vision’s Turnover:
- FY 2023-24: ₹165.19 million
- FY 2022-23: ₹165.00 million
- FY 2021-22: ₹185.03 million
- Related Parties: Five of the six transferors are related parties, but the transaction is conducted at arm’s length.
- Regulatory Approvals: None required
- Completion Timeline: Within 90 days
The promoters, promoter group, or group companies of GTPL have no involvement or interest in this transaction.