Divestment3 Nov 2026, 04:51 pm
HGS Subsidiary Divestment of Step-Down Subsidiaries Under Process
AI Summary
Hinduja Global Solutions Limited (HGS) announced that its subsidiary, IndusInd Media & Communications Limited (IMCL), is in the process of divesting its entire shareholding in two step-down subsidiaries: Bhima Riddhi Infotainment Private Limited and Vinsat Digital Private Limited. The discussions with the buyers are ongoing and are expected to take some additional time to complete. Upon successful completion of this divestment, Bhima Riddhi and Vinsat will no longer be considered step-down subsidiaries of HGS.
Key Highlights
- IMCL to divest its entire stake in Bhima Riddhi and Vinsat.
- Sale process is currently underway with buyers.
- Completion of sale will result in loss of step-down subsidiaries.
- No financial figures provided in this update.