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RIL to sell Hathway Cable & Den Network stakes

Reliance Industries Limited (RIL)

Reliance Industries Ltd (RIL) promoted Hathway Cable & Datacom Ltd and Den Networks, will sell shares through an OFS offering on March 26 and 30 for Rs 853 crore and Rs 269 crore, respectively.

Jio Content Distribution Holdings Pvt. Ltd, Jio Internet Distribution Holdings Pvt. Ltd and Jio Cable and Broadband Holdings Pvt. Ltd, sponsor of Hathway Cable & Datacom Ltd, will sell 338 million shares or a 19.1% stake at a minimum price from Rs 25.25 to Rs 853.45 crore.

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Jio Futuristic Digital Holdings Pvt. Ltd, Jio Digital Distribution Holdings Pvt. Ltd and Jio Television Distribution Holdings Pvt. Ltd will sell 55.5 million shares or an 11.63% stake in Den Networks Ltd for a minimum price of ₹48.50 totalling to ₹269.18 crore.

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In February 2020, Reliance Industries merged Den Networks and Hathway with Network18 and TV18 to consolidate RIL’s media and distribution business.

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