Network18 Media & Investments Ltd introduced that it obtained approval from the Nationwide Firm Regulation Tribunal (NCLT) for its merger with TV18 Broadcast Ltd. You may verify the announcement right here.
In consequence, TV18 Broadcast Ltd.’s shares might be suspended from buying and selling on the inventory exchanges from October 16, 2024, and the shares won’t be mirrored in your holdings on Kite.
As per the scheme of the association, the shareholders of TV18 Broadcast. will obtain 100 shares of Network18 for each 172 shares held in TV18 Broadcast.
Any fractional entitlement might be cash-settled and the quantity might be credited to the first checking account.
When will I obtain shares of Network18 Media & Investments?
Usually, the credit score of shares can take between 30 – 45 days from the document date. You’ll obtain an e-mail from CDSL as soon as the shares are credited to the demat account.
When will the allotted shares begin buying and selling on the exchanges?
After the shares are credited, the corporate has to get approval from the exchanges to record the shares. Submit the approvals are obtained the shares will begin buying and selling on the exchanges.
What would be the common worth for allotted shares of Network18 Media & Investments?
The common worth of allotted Network18 shares might be calculated as follows:
Invested worth in TV18 Broadcast / The variety of Network18 shares obtained together with fractional shares.
For instance, for those who had invested in 172 shares of TV18 Broadcast at Rs. 50, the invested worth can be Rs. 8,600.
In case you obtain 100 shares of Network18 Media & Investments, the typical worth might be Rs. 86 (8600 / 100).
The fractional shares are money settled, and the quantity for these might be straight credited to your major checking account as and when the trustee appointed by the corporate sells the shares.
What if I maintain lower than 172 shares of TV18 Broadcast Ltd?
Even for those who maintain lower than 172 shares of TV18 Broadcast, you’ll obtain an allotment of Network18 shares.
For instance, for those who maintain 10 shares of TV18 Broadcast Ltd, your allotment comes at 5.81 shares (10 x 0.5813). 5 Network18 Media & Investments shares might be credited to your demat account. 0.81 might be fractional and the quantity for this might be credited to your major checking account.
