Divestment9 Sept 2026, 03:41 pm
HGS Subsidiary Divests Stake in Two Companies for ₹16 Cr
AI Summary
Hinduja Global Solutions Limited (HGS) announced that its subsidiary, IndusInd Media and Communications Limited (IMCL), has approved the divestment of its entire shareholding in Bhima Riddhi Infotainment Private Limited and Vinsat Digital Private Limited. The sale of IMCL's 51% stake in Bhima Riddhi for ₹16 crore is expected to be completed by September 30, 2026. Upon completion, Bhima Riddhi and Vinsat will no longer be step-down subsidiaries of HGS. The buyers are existing shareholders of Bhima Riddhi and are not part of the promoter or group companies.
Key Highlights
- HGS subsidiary IMCL to divest entire stake in Bhima Riddhi and Vinsat.
- Divestment of Bhima Riddhi for ₹16 crore, sale by September 30, 2026.
- Bhima Riddhi and Vinsat will cease to be step-down subsidiaries of HGS.
- Buyers are existing shareholders, not related to promoter or group.
- Transaction is not considered a related party transaction.