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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 its meeting on March 30, 2026, approved the acquisition of an additional stake in Metastar Media Private Limited, which will become a subsidiary post-acquisition. The company is buying 1,40,000 equity shares at INR 196 per share (INR 186 premium), aggregating to a cash consideration of INR 2.74 crore, giving it 60% shareholding on a fully diluted basis. Metastar runs Artisteverse.in, a Web3 platform connecting independent artists with fans, hosting celebrities like Bickram Ghosh and the Indian Ocean Band. The transaction is a related party deal since the company's promoter, Mr. Sureshkumar Jain, holds a majority stake in Metastar, though it is being carried out at a valuation. The acquisition is expected to be completed within two months and requires no regulatory approvals.
This is a small-ticket acquisition (about INR 2.74 crore) into a Web3/music-tech start-up with negligible current turnover (INR 4.01 lakh in FY25). For shareholders, the strategic intent is clear—diversification into the digital content/Web3 space—but the immediate financial impact on Alan Scott is limited. The related-party nature of the deal warrants close attention to ensure fair valuation.