Addendum Notice of 2nd Extra-Ordinary General Meeting to be held on 08th Auguist,2025
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City Pulse Multiventures Ltd, which operates 13 cinema screens under 'Wow Cine Pulse' in Gujarat, is holding an EGM on 8 August 2025 to seek shareholder approval for acquiring 100% stake in Matrubharti Technologies Private Limited (MTPL), a regional-language digital literature platform. The deal is structured as a share swap at a 1:12 ratio, with City Pulse issuing 42,75,900 fresh equity shares at Rs. 358 each (premium of Rs. 348) — totalling roughly Rs. 153 crore in value — to MTPL shareholders in exchange for 3,56,336 MTPL shares. MTPL, incorporated in 2017, claims over 100,000 authors, 3 million readers and 1 million+ stories, but reported turnover of just Rs. 8,85,766 in FY25. The EGM will also approve raising authorised share capital from Rs. 11 crore to Rs. 16 crore to accommodate the new issuance. Post-deal, MTPL will become a wholly owned subsidiary of City Pulse.
The acquisition marks a strategic shift from City Pulse's traditional cinema business into regional digital content/OTT, which could open new revenue streams but carries execution risk given MTPL's very small current revenue base. Existing public shareholders face about 28.6% dilution, while promoter holding rises from 11.98% to 23.57%.