GTPL Hathway divests controlling stakes in 3 subsidiaries; Stock zooms over 3%

GTPL Ahmedabad, GTPL Sharda and GTPL Video have ceased as subsidiaries of the Company.

Sep 09, 2021 12:09 IST India Infoline News Service

GTPL Hathway
GTPL Hathway has announced divestment of controlling stake in three subsidiaries. The company entered into a share purchase agreement with subsidiaries namely GTPL Ahmedabad, GTPL Sharda and GTPL Video.

According to the regulatory, GTPL Hathway has disposed of ts entire 74.50% stake i.e. 14,900 Equity Shares of GTPL Alunedabad for Rs1.49 lakh.

Further, the company disposed of the entire 51 % stake i.e. 5,100 Equity Shares of GTPL Sharda. Also, the company sold a 51 % stake i.e. 5,100 Equity Shares of GTPL Video.

Following the above sales, GTPL Ahmedabad, GTPL Sharda and GTPL Video have ceased as subsidiaries of the Company.

The Company has sold its entire shareholding of GTPL Ahmedabad, GTPL Sharda and GTPL Video to Deepak Kumar Yadav who does not belong to Promoter/ Promoter Group/ Promoter Companies.

At around 11.59 am, GTPL Hathway was trading at Rs228.30  per piece up 3.4% on Sensex. 

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