Network18 is currently trading at Rs. 34.05, up by 1.00 points or 3.03% from its previous closing of Rs. 33.05 on the BSE.
The scrip opened at Rs. 35.00 and has touched a high and low of Rs. 35.35 and Rs. 34.00 respectively. So far 34726 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 100.00 on 20-Sep-2011 and a 52 week low of Rs. 29.10 on 01-Jun-2012.
Last one week high and low of the scrip stood at Rs. 35.35 and Rs. 32.40 respectively. The current market cap of the company is Rs. 502.70 crore.
The promoters holding in the company stood at 49.55% while Institutions and Non-Institutions held 12.15% and 38.30% respectively.
The Network18 Group has entered into an agreement to dilute its majority stake in India’s premier entertainment ticketing website - Bookmyshow.com. This is in line with its stated objective of reducing stakes in digital and other non-broadcasting assets to create value for the Network18 shareholders and allow infusion of growth capital in these assets to propel them to the next stage.
Network18 was the majority shareholder in Bigtree Entertainment, the holding company of the entertainment ticketing website BookMyShow.com, holding a 60% stake. Post the closure of the transaction with Accel Partners, the company will continue to be the single largest shareholder in the company with a 40% stake. Accel Partners, one of the leading global investors in Internet businesses will invest Rs 100 crore into the business. The secondary stake sale by Network18, post consummation will add Rs 45 crore to its pre-tax profit.
The stake sale at Bookmyshow.com is the second in a series of asset monetization transactions by Network18. Earlier during the year, Network18 had profitably sold its stake in one of the Capital18 investee companies - NetworkPlay to Bertelsmann. The Network18 group operates a portfolio of digital content and e-commerce assets including moneycontrol.com, ibnlive.com, in.com, firstpost.com and HomeShop18.com. Network18 also holds a minority stake in Yatra - one of India’s leading travel booking destinations.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 122.50 |
| Sun TV Network | 652.95 |
| GTPL Hathway | 121.95 |
| Network 18 Media Inv | 57.19 |
| Den Networks | 38.94 |
| View more.. | |
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