Intimation of Execution of Memorandum of Understanding with K Globes Digital Media Private Limited
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Pro CLB Global Limited has signed a Memorandum of Understanding (MOU) on 1st June 2026 with K Globes Digital Media Private Limited (KGDMPL), a newly incorporated media and digital communication company based in Ahmedabad. Under the MOU, Pro CLB proposes to acquire an initial 85% equity stake in KGDMPL, making it a subsidiary, with the option to raise its holding up to 100% in future phases. The company also plans to invest up to Rs. 20 Crore in phases to fund KGDMPL's expansion into television broadcasting, digital media, print publications, and corporate communication services, including its flagship 'Kubera Now' Gujarati business media platform. The MOU is largely non-binding, valid for 6 months, and the deal remains subject to due diligence, board and shareholder approvals, and execution of definitive agreements. Pro CLB may raise funds for the acquisition through preferential issues, rights issues, QIPs, debt, or strategic investors.
For shareholders, this represents a major strategic pivot for Pro CLB into the media and digital broadcasting space, with a sizeable Rs. 20 Crore commitment. The deal is still in early stages and non-binding, so near-term stock impact may be limited, but successful completion could significantly diversify and scale the company's business profile.