The board of directors of Picturehouse Media Ltd has approved the acquisition of 10,10,000 equity shares of Rs.10/- of New Cyberabad City Projects Pvt Ltd for a consideration of Rs. 32,52,09,900/- ("Total Consideration"). The consideration payable shall be discharged by way of Cash, in tranches.
The Company is planning to foray into real estate industry and in the Annual General Meeting held on 30th September 2022 had altered MOA to additionally include real estate as its business.
The acquisition of Shares shall be subject to such regulatory / statutory approvals as may be required under applicable laws.
Shares of PICTUREHOUSE MEDIA LTD. was last trading in BSE at Rs. 5.40 as compared to the previous close of Rs. 5.36. The total number of shares traded during the day was 522 in over 23 trades.
The stock hit an intraday high of Rs. 5.62 and intraday low of 5.12. The net turnover during the day was Rs. 2764.00.