HDFC divests 2.18% stake in Siti Networks for Rs3.62 crore

29 Dec 2022 , 01:21 PM

HDFC Limited informed that it has sold 1,90,11,237 equity shares of Rs1 each of Siti Networks Limited (Siti), representing 2.18% of the paid-up share capital of Siti. The sale took place in an open market transaction.

Following the sale, the company would hold 7,53,74,763 equity shares of Rs1 each of Siti representing 8.64% of its paid-up share capital.

The shares were sold on various dates beginning June 1, 2022, including the December 28, 2022 sale of 31,10,083 equity shares representing 0.36% of Siti’s paid-up share capital.

The company has sold 1,90,11,237 shares for a total consideration of Rs3.62 crore.

Siti was incorporated in Maharashtra. The company distributes television channels via a digital cable distribution network and provides allied services.

Siti Networks Limited’s consolidated revenue for the fiscal year ended March 31, 2022 was Rs1,461 crore, and its total assets were Rs1,650 crore.

At around 1.18 PM, HDFC was trading at Rs1,621.10 apiece, down by 0.53% against previous close of Rs1,629.80 on NSE. The counter hit intraday high and low of Rs1,624.50 and Rs1,611 respectively.

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