Future Consumer Ltd to dispose stake in Amar Chitra Katha Pvt Ltd

article continues after this advertisement

Future Consumer Limited has entered into definitive agreements with Mr. Ramanaidu Daggubati and Spirit Media Private Limited on 5th May, 2022, to dispose-off part of its investments held in Amar Chitra Katha Pvt Ltd (ACKPL) aggregating to 3,61,290 equity shares constituting to 18.58% of total paid-up share capital of ACKPL to the respective purchasers, in one or more tranches, subject to such further consents and approvals that may be required and achieving completion of conditions specified under respective agreements.

Upon completion of sale of shares of ACKPL as stated above, ACKPL shall cease to be a subsidiary of the Company.

The aggregate consideration to be received from the sale of investments held in ACKPL will be Rs. 13.62 crore.