HT Media (NSE:HTMEDIA, BOM:532662) has received board nod to invest up to 110 million Indian rupees in its wholly-owned subsidiary Mosaic Media Ventures, according to a Tuesday filing with the Indian bourses.
The company will acquire 54,428 equity shares at the price of 10 rupees per equity share at the face value of 10 rupees per equity share and a premium of 2,011 rupees per equity share.
The investment will be used by the subsidiary to further grow its business of gathering and distributing news, analysis and research for business, management, investors, and general public.
Shares of the company were up 4% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.