Entertainment Network to Transfer Assets of Four FM Radio Stations to Abhijit Realtors for Rs. 19.60 Crore

Entertainment Network (India) Ltd. has approved the proposed transfer and vesting of tangible and intangible assets relating to four FM Radio Stations - Kanpur 91.9 FM, Lucknow 107.2 FM, Nagpur 91.9 FM, and Hyderabad 104.8 FM - to Abhijit Realtors & Infraventures Private Limited. The total consideration for the transaction is Rs. 19.60 Crore plus applicable taxes. The transaction is expected to be completed by 30 September 2026, subject to the execution of definitive documents, receipt of regulatory approvals, and fulfilment of conditions precedent. Abhijit Realtors is not a related party of the Company, and the transaction does not fall within related party transactions. The Company intends to monetise by transferring the above radio stations frequencies.