NDTV to sell stake in Delta Softpro for Rs. 30 crores

New Delhi Television Limited ("the Company") has executed a Share Purchase Agreement (dated April 22, 2022) with Bathla Teletech Private Limited and its affiliates ("the Purchasers") for the sale of its entire stake in its wholly-owned subsidiary, Delta Softpro Private Limited ("Delta Softpro"), constituting 100% of the total share capital of Delta Softpro, for a consideration of Rs. 30,00,00,000/- (Rupees Thirty Crores Only).

The Company holds 84,78,958 equity shares in Delta Softpro and the Purchasers have agreed to purchase the said shares at the rate of Rs. 35.38/- (Rupees Thirty Five and Thirty Eight Paisa) per share. Accordingly, the Company will receive a consideration of Rs. 30,00,00,000/- (Rupees Thirty Cores) on disposal of shares.

The completion of the transaction shall be subject to fulfilment of conditions precedents in accordance with the terms agreed upon in the Share Purchase Agreement.

The net worth of Delta Softpro is Rs. 15.72 crore (attributing 5.5% of the net worth of the Company as on March 31, 2021)

Shares of New Delhi Television Limited was last trading in BSE at Rs. 211.40 as compared to the previous close of Rs. 214.35. The total number of shares traded during the day was 12915 in over 740 trades.

The stock hit an intraday high of Rs. 219.80 and intraday low of 204.00. The net turnover during the day was Rs. 2767032.00.

Source : Equity Bulls

Keywords

NewDelhiTelevision INE155G01029 NDTV StakeSale DeltaSoftpro