Hindustan Media Ventures’ board has approved a proposal to invest upto Rs 6 crore in equity shares and/or convertible equity linked instruments of Padma Infocom (ReviewAdda).
Under the proposed investment, basis the existing capital structure of ReviewAdda, the company will acquire either equity shares or convertible equity linked instruments which can be converted into equity shares equivalent to 10.71% equity stake in ReviewAdda. The Board of Directors of the company at its meeting held on October 26, 2020, has approved the same.
Hindustan Media Ventures is one of the leading print media companies in India in terms of readership