Second Addendum Notice of 2nd Extra-Ordinary General Meeting to be held on 08th August,2025
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City Pulse Multiventures (BSE SME listed, cinema theatre operator with 13 screens in Gujarat) is calling an EGM on August 8, 2025 to approve acquisition of 100% stake in Matrubharti Technologies Pvt Ltd (MTPL), a regional language digital literature platform with 1 lakh+ authors and 3 million readers. The deal is structured as a share swap — CPML will issue 42,75,900 equity shares at Rs. 358 each (premium Rs. 348) to MTPL shareholders in a 1:12 ratio (12 CPML shares for every 1 MTPL share), making MTPL a wholly-owned subsidiary. CPML is also seeking to raise its authorized share capital from Rs. 11 crore to Rs. 16 crore to accommodate the new issuance. Post-allotment, promoter holding will jump from 11.98% to 23.57%, while public shareholding dilutes from 88.02% to 76.43%. Directors/promoters of CPML (Arpit Mehta family) are also MTPL shareholders and will receive 22,43,900 shares cumulatively in the swap.
Existing public shareholders face dilution of about 11.6% as the share count rises from ~1.07 crore to ~1.49 crore equity shares, though the acquisition brings a digital content platform into the fold. The deal values MTPL at roughly Rs. 15.3 crore based on CPML's swap price, against MTPL's FY25 turnover of just Rs. 8.85 lakh — making the acquisition heavily growth/strategic-bet driven rather than earnings-accretive in the near term.