Gujarat headquartered Multi System Operator (MSO) GTPL Hathway today in a regulatory filing announced the disinvestment in two of its subsidiary companies Vaji Communications Private Limited (“Vaji Communications”) and Vizianagar Citi Communications Private Limited (“Vizianagar”)
The company has divested its entire 51 percent equity shares i.e 32,96,010 equity shares having a face value of Rs 10 each and 100 stake in preference shares i.e 61,50,000 cumulative convertible preference shares having a face value of Rs 10 each in Vaji Communications for a cash consideration of Rs 3,29,601 and Rs 6,15,000.
The company has divested its entire 51 percent equity stake i.e 51,000 equity shares having a face value of Rs 100 each in Vizianagar Communications for a cash consideration of Rs 5,100. Both the transactions happened through the Share Transfer Agreement dated January 27, 2021.
Post the transaction, both the companies have ceased to be a subsidiary of GTPL Hathway. The acquirer is not related to the promoter group or promoter company.