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T.V. Today Network invests Rs 28.60 crore in indirect wholly owned subsidiary

Capital Market 

Invests in 2.86 crore equity of Mail Today Newspapers

T.V. Today Network has invested in 2.86 crore equity of Mail Today Newspapers (indirect wholly owned subsidiary) of Rs 10 each aggregating to Rs 28.60 crore (representing 16.67% of the increased paid up share capital of Mail Today Newspapers) on 07 December 2017. The investment will be used by Mail Today Newspapers for repayment of its debt and for its business operations.

Consequent to this investment, the Company and its subsidiary, India Today Online will continue to hold 100% of the paid up capital of Mail Today Newspapers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 07 2017. 20:21 IST