HMVL: Strategic fit or bailing out promoters?
Hindustan Media Ventures Limited (HMVL) is one of India’s leading print media companies with its distribution spread across Delhi-NCR, Uttar Pradesh, Uttarakhand, Bihar and Jharkhand. Incorporated in July 9, 1918 under the Indian Companies Act, 1913, the company is engaged in the printing and publishing of the flagship Hindi newspaper ‘Hindustan’, which is the second largest daily of India, based on total readership. It holds the leading position in Uttarakhand, Bihar and Jharkhand and ranks second in UP and Delhi. HMVL also publishes two Hindi magazines ‘Nandan’ and ‘Kadambini’. The equity shares of the company are listed on BSE and NSE, the market capitalization of the company on BSE is Rs 1,659 Crores. The scheme deems the transaction for HVML as strategic fit but it may be better utilisation of surplus cash. India Education Services Private Limited (IESPL) incorporated in October 2011 is engaged in the business of providing all types of academic and non-academic servic...