Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Acquisition of balance equity shares ....
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Hathway Bhawani Cabletel & Datacom Ltd has acquired the remaining 49% equity stake (15,190 shares) in its subsidiary Hathway Bhawani NDS Network Limited for a total consideration of just ₹15,190 (effectively ₹1 per share). With this purchase, Bhawani NDS has become a wholly owned subsidiary of the company. Bhawani NDS operates in the Cable TV business with a presence in Thane, Maharashtra, and reported a turnover of ₹54.28 lakhs in FY 2024-25, down from ₹64.90 lakhs in FY 2023-24 and ₹75.32 lakhs in FY 2022-23, showing a declining trend. The transaction is not a related party transaction and no regulatory approvals were required.
This is a minor consolidation move with negligible financial impact given the tiny deal size and the small, declining revenue of the subsidiary. Shareholders should not expect any material change in the company's financials or stock price from this transaction, though it does simplify the corporate structure by removing minority interests in a non-core subsidiary.