Investment30 Jan 2025, 01:48 am
3I Infotech Ltd. to Dilute Stake in Nure Mediatech for Rs. 17.5 Crores, Reducing Holding to 51%
AI Summary
3I Infotech Ltd. has executed an Investment Agreement with Investor Group to dilute its stake in Nure Mediatech, a wholly-owned subsidiary. The transaction involves issuing fresh equity shares and compulsorily convertible preference shares (CCPS) to Investor Group, reducing the company's shareholding to 51% post-conversion of CCPS. The total consideration for the transaction is Rs. 17.50 crores. Upon completion, Nure MediaTech and NuRe Bharat Network Limited will cease to be wholly-owned subsidiaries of the company.
Key Highlights
- 3I Infotech Ltd. to dilute stake in Nure Mediatech by 49%
- Transaction consideration is Rs. 17.50 crores
- Investor Group to acquire fresh equity shares and CCPS
- Nure MediaTech and NuRe Bharat Network Limited to cease being wholly-owned subsidiaries
- Completion of the transaction expected on or before March 31, 2025