Network18 Media and Investments, has announced the sale of its entire 100% equity stake in its wholly-owned subsidiary, Media18 Distribution Services, to Prakhar Commercials (PCPL).
The transaction was successfully completed for a total amount of Rs 1 lakh.
In a regulatory filing, the company mentioned that consequently, Media18 has ceased to be a subsidiary of the Company.
PCPL is a private limited company and does not belong to promoter, promoter group and group companies of the Company.
Media18 had nil turnover during the financial year ended March 31, 2025, and its net worth was Rs 0.15 lakh as on March 31, 2025, contributing 0.0001% to the consolidated net worth of the Company as on March 31, 2025. The transaction is not a related party transaction.
