Gujarat headquartered Multi System Operator (MSO) GTPL Hathway has sold its entire existing stake in subsidiary GTPL Space City Private Limited on November 18, 2020, the company stated in a BSE filing.
The stake sale in GTPL Space City Private Limited amounting to 61.5 stake which amounts to the entire stake has resulted in the company ceasing to be a subsidiary of GTPL Hathway.
The company had a total income of Rs 3.76 million for the fiscal year ending March 31, 2020, which accounts for 0.01% of GTPL’s consolidated income while the net worth stood at Rs 16.10 million for the fiscal year which stood at 0.22% of GTPL’s consolidated net worth.
The share purchase agreement and sale have been executed and completed yesterday itself. The consideration received from the sale amounts to Rs 18,74,520 valued at Rs 152.4 per share having face value of Rs 10 each for 12,300 Equity Shares.
The aforesaid shares have been acquired by Jayshriben H Sorathia who is one of the existing shareholders of GTPL Space City.