UFO Moviez sells its entire stake in associate company Mukta V N Films
The financial details were not disclosed in the filing. Additionally, UFO Moviez also sold 2,40,000 share warrants of Mukta V N Films
 "Over 450 promoters cut stake in shareholding amid new market highs")
ILLUSTRATION: AJAY MOHANTY
Listen to This Article
UFO Moviez India, an Indian digital cinema distribution network and in-cinema advertising platform, on Monday completed the sale of 30,59,950 equity shares in its associate company, Mukta V N Films, a film programming company, as per the former’s stock exchange filing.
The financial details were not disclosed in the filing. Additionally, UFO Moviez also sold 2,40,000 share warrants of Mukta V N Films.
Maverick Media, a digital marketing agency, bought 48.11242 per cent of the equity share capital sold by UFO Moviez India. The board of directors of UFO Moviez India “had approved the execution of the Securities Purchase Agreement (SPA)” on November 22, along with 10 equity shares held by nominee shareholders.
“Pursuant to the completion of the transaction, Mukta ceases to be an associate of the company with effect from December 23, 2024,” said the company in a statement.
More From This Section
 "Adani Group's acquisition of a controlling stake in ITD Cementation India through a Rs 3,204 crore deal marks the conglomerate's entry into the engineering and construction (EPC) sector. With this purchase, the group aims to leverage its capital expe")
 "ICAI India")
 "Byju's")
 "Data centres")
 "Ahead of the first offshore mineral auctions, the central government has introduced royalty rates for construction sand, polymetallic nodules, and overburden or waste—key minerals to be extracted through offshore mining. The royalty rate for dolomite")
Topics : UFO Moviez India stock exchange Films
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 23 2024 | 7:43 PM IST