Deal completed for a total consideration of ₹1 lakh
Network18 Media & Investments, a leading Indian media conglomerate, has announced the sale of its entire 100% equity stake in its wholly-owned subsidiary, Media18 Distribution Services, to Prakhar Commercials Private Limited (PCPL). The deal was finalized for a total consideration of ₹1 lakh.
With this transaction, Media18 Distribution Services ceases to be a subsidiary of Network18. The company disclosed the development to stock exchanges, noting that the transaction involved the transfer of 10,000 equity shares, each with a face value of ₹10.
Minimal financial impact
Network18 stated that Media18 Distribution Services had no business turnover during the financial year ending March 31, 2025. Its net worth stood at ₹0.15 lakh, contributing a negligible 0.0001% to Network18’s consolidated net worth.
Not a related party transaction
The buyer, Prakhar Commercials, is a private company and is not associated with Network18’s promoter group or any affiliated entities. The transaction has been confirmed as not a related party transaction.
Strategic portfolio move
This divestment is part of what Network18 described as routine portfolio realignment, a common practice among large corporates. Network18 Media & Investments is primarily owned by Reliance Industries.
