Acquisition of 49% stake of Quintillion Business Media Limited (“QBML”) by AMG Media Networks Limited (“AMNL”), a wholly owned subsidiary of Adani Enterprises Limited (“Company”)

 In continuation to our earlier intimation dated May 13, 2022, vide which we had informed you about execution of Share Purchase Agreement dated May 13, 2022 (”SPA”) executed between AMNL, Quintillion Media Limited (“QML”), Quintillion Media Limited QBML and Quint Digital Media Limited (“QDML”). We hereby inform you that AMNL has completed the acquisition of 49% equity stake in QBML, in accordance with the terms contemplated under the SPA .

 The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR / CFD / CMD / 4 / 2015 dated 9th September, 2015 are given as under: -

 

Sr. N.	Particulars	Details
a)	Name of the target entity, details in brief such as size, turnover etc.	Quintillion Business Media Limited   1.  Authorized Share Capital: Rs. 266.60 Crore 2. Paid-Up Share Capital: Rs. 260.62 Crore 3.  Turnover       for       FY      2021-22: Rs. 15.89 Crore
b)	Whether the acquisition would fall     within     related    party	No

 

Sr. N.	Particulars	Details
	transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”.
c)	Industry to which the entity being acquired belongs	Media
d)	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The acquisition is of strategic nature in the interest of AMNL.
e)	Brief details of any governmental or regulatory approvals required for the acquisition.	Not applicable
f)	Indicative   time    period   for completion of the acquisition	Completed on March 27, 2023
g)	Nature of consideration - whether cash consideration or share swap and details of the same;	Cash
h)	Cost of acquisition or the price at which the shares are acquired;	Rs. 47.84 Crore in accordance with the terms of the Share Purchase Agreement
i)	Percentage of shareholding / control                acquired  and   /                or number of shares acquired;	49% of QBML
j)	Brief  background  about  the entity  acquired  in  terms  of	QBML  is  incorporated  in  India  and registered   with     the    Registrar   of

 

Sr. N.	Particulars	Details
	products/line of business acquired,           date            of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	Companies, Delhi & Haryana at New Delhi on December 12, 2015 and is presently engaged in the business of operating an exclusive business and financial news on digital media platform viz. bqprime.com.   History of QBML’s last three year’s turnover: