Business Update26 Feb 2024, 07:06 pm
Mukta Arts Limited enters into binding term sheet with Maverick Media Private Limited
AI Summary
The Board of Directors of Mukta Arts Limited has approved the revised terms of the investment of Rs.100,00,00,000 (Rupees One Hundred Crores only) in Redeemable Preference Shares or other financial instruments/ securities by Maverick Media Private Limited (“Investor”) in Mukta A2 Cinemas Limited (“Mukta A2”), a material subsidiary of the Company.,
Key Highlights
- Investment of Rs.100 crore by Maverick Media Private Limited in Mukta A2 Cinemas Limited
- Revised terms of the investment
- Mukta A2 to cease to be a subsidiary of Mukta Arts Limited after the investment