Hindustan Media Ventures Ltd to invest in ReviewAdda

The Board of Directors of Hindustan Media Ventures Limited at its meeting held on 26th October, 2020 has approved a proposal to invest upto Rs. 6 Crore in equity shares and/or convertible equity linked instruments of 'Padma Infocom Private Limited' (ReviewAdda).

Under the proposed investment, basis the existing capital structure of ReviewAdda, the Company will acquire either equity shares or convertible equity linked instruments which can be converted into equity shares equivalent to 10.71% equity stake in ReviewAdda.

ReviewAdda owns and operates www.reviewadda.com which help admission seekers in selecting and applying to various colleges and universities.

Shares of HINDUSTAN MEDIA VENTURES LTD. was last trading in BSE at Rs.50.3 as compared to the previous close of Rs. 50.3. The total number of shares traded during the day was 10891 in over 153 trades.

The stock hit an intraday high of Rs. 51.4 and intraday low of 48.05. The net turnover during the day was Rs. 544711.

Source : Equity Bulls

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