In a regulatory filing to the exchanges on Monday, the company said this without disclosing the acquisition amount...
New Delhi: AMG Media Networks, a subsidiary of Gautam Adani-led Adani Enterprises Limited, is set to acquire a 49 per cent stake in Raghav Bahl's company 'Quintillion Business Media.
In a regulatory filing to the exchanges on Monday, the company said this without disclosing the acquisition amount.
According to reports, in a regulatory notice sent late on May 13, Adani Enterprises said it had entered into a Shareholder Agreement (SHA) with Quintillion Media Limited (QML) and QBML.
It has also signed a Share Purchase Agreement (SPA) with QML, QBML and Quint Digital Media Limited (QDML).
Notably, in March this year, it had come to the fore that the company was preparing to buy a partial stake in 'Quintillion Business Media'.
Quintillion Business Media is a business and financial news company that operates a leading business news digital platform in India.
Quintillion Business Media's core content is based on the Indian Economy, International Finance, Corporate Law and Governance and Business News.
Meanwhile, following the development, the shares of Quint digital media jumped suddenly, rallying over 9 per cent at 12.13 PM.
Interestingly, the jump came at a time when the stock market was witnessing more selling than buying.