RIL to sell Hathway Cable & Den Network stakes By Elets News Network - 26 March 2021

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.

This satellite image from Cnes2021, Airbus DS Distribution, shows the MV Ever Given freighter that got stuck in the Suez Canal near Suez, Egypt, on Thursday, March 25, 2021, when at least 150 other ships had to idle at through the crucial channel, to wait for the obstacle to be lifted, authorities said.

According to the latest amendments to Annex III of the 2013 Companies Act, companies are required to disclose profits or losses on cryptocurrency or virtual currency transactions, the amount of inventory, and the details of any deposit or advance made by anyone with in order to trade or invest in crypto currencies or virtual currency.

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.

Also Read: Reliance sells Pennsylvania shale asset for $250 million

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

Related News