GTPL Hathway soars on inking pact to acquire balance 49% of equity stake of GTPL Vision Services
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GTPL Hathway is currently trading at Rs. 139.00, up by 1.60 points or 1.16% from its previous closing of Rs. 137.40 on the BSE.
The scrip opened at Rs. 138.00 and has touched a high and low of Rs. 139.15 and Rs. 137.75 respectively. So far 447 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 217.65 on 10-Jan-2024 and a 52 week low of Rs. 133.30 on 27-Dec-2024.
Last one week high and low of the scrip stood at Rs. 140.30 and Rs. 133.30 respectively. The current market cap of the company is Rs. 1563.24 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 8.64% and 16.36% respectively.
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.
