Dear Sir/Madam, In continuation of our earlier disclosure made on November 07, 2024, July 11, 2025 and pursuant to provision of Regulation 30 of Securities and Exchange Board of India ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Alan Scott Enterprises Ltd's board, at a meeting on March 30, 2026, approved acquiring an additional 60% stake in Metastar Media Private Limited for INR 2.74 crore in cash, making it a subsidiary. Metastar runs Artisteverse.in, a Web3 platform for independent artists to connect with fans and monetise their work, and currently features celebrities like Bickram Ghosh and the Indian Ocean Band. The deal is a related party transaction because the company's promoter, Mr. Sureshkumar Jain, holds a majority stake in the target. Metastar's turnover grew from NIL in FY23 to just about INR 4 lakh in FY25, so the company is being acquired at a significant valuation premium. Completion is expected within two months and no regulatory approvals are required.
The acquisition gives Alan Scott entry into the Web3/digital entertainment space, but the high price-to-turnover ratio (2.74 crore paid for a company with only 4 lakh in revenue) and the related party nature of the deal may raise governance concerns among minority shareholders. Investors should watch for the subsidiary's future revenue traction to justify the premium paid.