Reliance Industries (RIL) will make investments of Rs 2,290 crore in Den Networks and Rs 2,940 crore in Hathway Cable and Datacom
New Delhi: Reliance Industries on Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore. [caption id=“attachment_4818281” align=“alignleft” width=“380”]![RIL logo. Reuters]()
RIL logo. Reuters[/caption] RIL will make a “primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 percent stake in DEN”, the company said in a statement. Also, it will make a primary investment of Rs 2,940 crore through a preferential issue for a 51.3 percent stake in Hathway. RIL would also make open offers to minority shareholders of GTPL Hathway Ltd, a company jointly controlled by Hathway with 37.3 percent stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway. (Disclosure - Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
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 "Reliance Industries to buy majority stakes in Den Networks, Hathway Cable for Rs 5,230 cr")
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