Hindustan Media Ventures Allocates Equity Shares in RD Retail Following Warrant Conversion
Hindustan Media Ventures Limited (HMVL) has allotted 3,927 equity shares amounting to Rs. 32.5 Crore, following the conversion of warrants held by the company in RD Retail India Private Limited (RD Retail). This move represents an investment into the fast-growing FMCG sector, aiming to leverage media assets owned by Hindustan Media Ventures for future capital return.The transaction involved the conversion of 3,250 warrants into the equity shares. The acquisition grants HMVL approximately 3.8% of the equity share capital of RD Retail.
RD Retail is described as a leading B2B marketplace that retails FMCG products to retailers across Delhi NCR. Incorporated in 2012 with its headquarters in Delhi, the company operates within the FMCG industry.
The turnover figures for RD Retail over the past three fiscal years are detailed below:
| Fiscal Year | Turnover (Rs.) |
|---|---|
| FY23 | Rs. 68.19 Crore |
| FY24 | Rs. 59.04 Crore |
| FY25 | Rs. 77.28 Crore |
The investment in RD Retail is intended for the purpose of capital return in future and aligns with HMVL's strategy to leverage its media assets.
HMVL Stock Price Movement
Hindustan Media Ventures Limited shares slipped today, closing down 4.94% to settle at ₹93.87. The stock traded a volume of 42,992 shares as it hovered near the day's low of ₹93.74.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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