Notice of EGM to be held on 08th August,2025
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City Pulse Multiventures Ltd (CPML), which runs 13 cinema screens in Gujarat under the 'Wow Cine Pulse' brand, is convening an EGM on August 8, 2025 to seek shareholder approval for issuing 42,75,900 equity shares at Rs. 358 per share (Rs. 10 face value + Rs. 348 premium) through a share swap to acquire 100% of Matrubharti Technologies Pvt Ltd (MTPL). The swap ratio is 1:12, meaning 12 CPML shares will be issued for every 1 MTPL share held, covering all 3,56,336 MTPL shares. MTPL is a digital regional-language literature platform (startup) with 1 lakh+ authors, 3 million readers, and turnover of about Rs. 8.85 lakhs in FY25. After the deal, MTPL will become a wholly owned subsidiary of CPML, and promoter group holding will rise from 11.98% to 23.57%. The company says there is no change in control, and no cash is being paid as consideration (only fractional share payouts of ~Rs. 5.67 lakhs in total).
Existing shareholders face ~40% dilution as shares jump from 1.07 crore to 1.49 crore, with promoter group nearly doubling its stake without any cash outflow. While the deal gives CPML a digital/OTT content play, MTPL's turnover is very small (under Rs. 9 lakhs), so near-term financial accretion looks limited and the acquisition appears strategic/long-term rather than immediately value-additive.