Adani Enterprises-led arm acquires Vishvapradhan Commercial for Rs113.75 crore

24 Aug 2022 , 02:44 PM

Adani Enterprises Limited’s wholly owned subsidiary AMG Media Networks has acquired a 100% equity stake in Vishvapradhan Commercial Private Limited (VCPL).

The company stated that the acquisition is in accordance with the terms contemplated under the purchase agreement dated August 23, 2022, executed between AMNL, Nextwave Televentures Private Limited (NTPL), and Eminent Networks Private Limited (ENPL).

The said acquisition is of strategic nature.

The company completed the acquisition simultaneously with the execution of the Purchase Agreement dated August 23, 2022.

AMG Media has agreed to pay a consideration of Rs113.75 crore (Rs113,74,61,990) in lieu of 100% stake.

VCPL was incorporated on February 25, 2008.

At around 2.48 PM, Adani Enterprises was trading at Rs3,079.85 up by 1.86% from its previous closing of Rs3,023.65 on the BSE. The scrip touched intraday high and low of Rs3,094 and Rs2,987 respectively.

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