Network18 Media & Investments, an Indian media conglomerate, has announced the sale of its entire 100% equity stake in its wholly-owned subsidiary, Media18 Distribution Services, to Prakhar Commercials (PCPL). The transaction was completed for a total consideration of ₹1 lakh.
Following this sale, Media18 Distribution Services is no longer a subsidiary of Network18. The company informed the stock exchanges about the deal, which involved the sale of 10,000 equity shares, each valued at ₹10.
According to Network18, Media18 Distribution Services had no business turnover during the financial year ended March 31, 2025, and its net worth as of that date was a nominal ₹0.15 lakh. This amount contributed a negligible 0.0001% to Network18's consolidated net worth.
Network18 also clarified that Prakhar Commercials Private is a private entity unrelated to its promoter group or any of its affiliated companies. Furthermore, the transaction is not classified as a related party transaction.
This divestment aligns with routine portfolio adjustments by large corporate entities. Network18 Media & Investments is primarily owned by Reliance Industries.
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