GTPL Hathway has entered into a share transfer agreement to acquire balance 49% of equity stake i.e., 1,00,000 equity shares of Rs 10 each from the existing shareholders of GTPL Vision Services (GTPL Vision), a subsidiary of the Company for a cash consideration of Rs 1131 per equity share aggregating Rs 11.31 crore.
The aforesaid acquisition of equity shares is for consolidation of business operations. Post acquisition, GTPL Vision will become a wholly owned subsidiary of the Company. GTPL Vision, incorporated on March 17, 2008, is engaged in the distribution of television channels. The turnover of GTPL Vision for FY 2023-24, FY 2022-23 and FY 2021-22 was Rs 16.52 crore, Rs 16.50 crore and Rs 18.50 crore respectively.
GTPL Hathway is a leading regional Multi-System Operator (MSO) in India, offering cable television and broadband services.
