Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Sale of 100% stake in Media18 Distribution Services Limited.
NETWORK18 · price
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Awaiting price reaction for this filing.
Network18 Media & Investments has sold its entire 100% equity stake (10,000 shares of Rs. 10 each) in its wholly owned subsidiary, Media18 Distribution Services Limited, to Prakhar Commercials Private Limited for a total consideration of Rs. 1 lakh. Media18 has consequently ceased to be a subsidiary of the company. The buyer, PCPL, is an unrelated third party and not part of the promoter or group companies, making this a non-related-party transaction. Media18 had nil turnover in FY25 and a net worth of just Rs. 0.15 lakh, contributing only 0.0001% to Network18's consolidated net worth — indicating the entity was effectively a dormant subsidiary.
The financial impact is negligible given the tiny consideration and the subsidiary's near-zero contribution to the company's net worth. This appears to be a routine cleanup of a non-operational subsidiary and is unlikely to have any material effect on the stock price or shareholder value.