GTPL Hathway has entered into a share transfer agreement to acquire balance 49% of equity stake i.e., 72,609 equity shares of Rs 10 each from the existing shareholders of GTPL Sorath Telelink, a subsidiary of the company for a cash consideration of Rs 10 per equity share aggregating Rs 7.26 lakh.
The aforesaid acquisition of equity shares is for consolidation of business operations. Post acquisition, GTPL Sorath will become a wholly owned subsidiary of the company. The acquisition is expected to be completed within a period of 60 days.
GTPL Hathway is a leading regional Multi-System Operator (MSO) in India, offering cable television and broadband services.
