New Delhi Television (NDTV) has received an approval to transfer of up to 7.38% stake of the company at Rs 59,824 per equity share in Red Pixels Ventures (RPVL), a material subsidiary of the company, to A R Chadha and Co (India), the landlord of the office premises in New Delhi. The board of directors at its meeting held on April 30, 2018 has approved for the same.
The company and NDTV Convergence currently hold 37.04% and 55.57% respectively in RPVL. Transfer of aforesaid shareholding by the company will be reduced basis the exercise of the tag along right by other shareholders of RPVL. The sale proceeds will be utilized by the company for working capital including in relation to payment of outstanding rent by company.
NDTV operates as a television media company in India and internationally. Its channels offer news and current affairs, lifestyle, entertainment, and youth programs, as well as family and realty shows, chat shows, and period dramas.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 81.06 |
| Sun TV Network | 641.25 |
| GTPL Hathway | 69.83 |
| Network 18 Media Inv | 36.38 |
| TV Today Network | 114.27 |
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