Quintillion Media Ltd completes divestment of stake in Quintillion Business Media Ltd

Pursuant to the Memorandum of Association ("MOU") dated August 14, 2023 and the Share Purchase Agreement dated November 1, 2023, Quintillion Media Limited (our material subsidiary) ("QML") has completed the divestment of the remaining 51% stake in Quintillion Business Media Limited ("QBM") to AMG Media Networks Limited ("AMG Media"), a wholly owned subsidiary of Adani Enterprises Limited.

On account of the consummation of the share sale transaction, QBM is not a step-down subsidiary of the Company. Mr. Raghav Bahl and Ms. Ritu Kapur have submitted their resignations from the Board of QBM.

Shares of Quint Digital Media Ltd was last trading in BSE at Rs. 149.20 as compared to the previous close of Rs. 145.60. The total number of shares traded during the day was 19806 in over 159 trades.

The stock hit an intraday high of Rs. 152.00 and intraday low of 146.10. The net turnover during the day was Rs. 2943691.00.

Source : Equity Bulls

Keywords

QuintDigitalMedia INE641R01017 StakeDivestment