Afloat Enterprises Signs MOU with Dream Media Network

Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited) announced the execution of a Memorandum of Understanding (MOU) with Dream Media Network Private Limited (DMNPL). This MOU aims to explore a potential strategic association, including the possible acquisition of up to 100% stake in DMNPL. The acquisition would be structured through a share swap and/or equity issuance, contingent upon a valuation report from an independent valuer. The company also announced the resignation of three Non-Executive Independent Directors and the subsequent reconstitution of its Board Committees. Additionally, a separate MOU was approved with Alvora Jewels and Gems Private Limited for the purchase and sale of jewellery, and the company's registered office is being shifted within Delhi.