NDTV disposes off entire stake in step-down subsidiary Delta Softpro; stock surges ~3%

20 Apr 2022 , 10:37 AM

New Delhi Television Limited (NDTV) has considered and approved the sale of the company’s entire stake in its wholly-owned subsidiary, Delta Softpro Private Limited (Delta Softpro), constituting 100% of the total share capital of Delta Softpro, for consideration of Rs30 crore.

The transaction is subject to the execution of a definitive agreement and the fulfillment of other conditions.

The Company will also invest an amount of Rs1.33 crore in Delta Softpro by way of rights issue so that the subsidiary can discharge certain liabilities ahead of its sale.

NDTV’s counter was trading 2.82% higher so far in today’s trade at Rs223.90 against its previous close of Rs217.75 on BSE. It opened at Rs228.60 and touched intraday high and low of Rs228.60 and Rs221.15 respectively.