Cable TV
GTPL sells dormant associate for Rs 1 Lakh
MUMBAI: GTPL, the prominent multi-system operator (MSO) and broadband provider led by Anirudhsinh Jadeja, has offloaded its entire stake in a non-operational associate for Rs 1 lakh completing the transaction on 10 March.
The cable TV and internet services company sold its 50 per cent equity holding in GTPL Jay Mataji Network Pvt Ltd to Deepak Kumar Yadav at approximately 11:00 a.m. IST, according to a regulatory filing.
The transfer of 10,000 equity shares was finalised immediately after receipt of payment, effectively ending the associate relationship between the two entities.
GTPL confirmed that Yadav has no connection to its promoter or promoter group, and the transaction does not constitute a related party deal under regulatory provisions.
Industry analysts note this move aligns with GTPL’s recent strategy of consolidating its position in core cable and broadband markets while divesting non-performing assets.
